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On Monday (19), the United States House of Representatives, Pelosi, issued a final 48-hour notice on the negotiation of the new stimulus bill, hoping to reach an agreement before the general election, which That caused US stocks to collectively rise in early trading. Once an agreement was reached, the selling pressure was released in the last trades and the four main indices were simultaneously black.
The Dow Jones and S&P had their worst day since September 23. The Nasdaq posted its biggest one-day drop since October 2 and experienced a five-day drop for the first time since August 2019.
Pelosi spokesman Drew Hammill said Monday that House Speaker Pelosi and Treasury Secretary Mnuchin continue to narrow their differences and will continue their dialogue on Tuesday.
The Speaker of the US House of Representatives, Nancy Pelosi, said Sunday that the two sides must reach an agreement with the Trump administration on a new stimulus bill within the next 48 hours. Tuesday’s deadline is about “everyone wants to do it before the election.” Good things.”
Yet on Wednesday, Republican leader Mitch McConnell will vote for a slimmer version of the $ 500 billion epidemic assistance program. Republicans may oppose the possible deal reached by Pelosi and Mennuchin.
The global epidemic of new corona pneumonia (COVID-19) continues to have a fever. Before the deadline, according to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 40.25 million and the number of deaths has exceeded 1.11 million . There are more than 8.18 million confirmed cases in the United States and the cumulative number of deaths exceeds 219,000.
Monday (19) the performance of the four main US stock indices:
- The Dow Jones index fell 410.89 points, or 1.44%, to close at 28,195.42 points.
- The S&P 500 Index fell 56.89 points, or 1.63%, to close at 3,426.92 points.
- The Nasdaq index fell 192.67 points, or 1.65%, to close at 11,478.88 points.
- The Philadelphia Semiconductor Index fell 13.91 points, or 0.58%, to close at 2,385.85 points.
Five big tech giants collectively shut down. Apple (AAPL-US) fell 2.55%; Microsoft (MSFT-US) fell 2.48%; Amazon (AMZN-US) fell 2.00%; Alphabet (GOOGL-US) fell 2.41%; Facebook (FB-US) fell 1.70%.
All of the Dow Jones constituent stocks fell and only Intel received red. Johnson & Johnson (JNJ-US) fell 2.55%; American Express (AXP-US) fell 2.33%; Chevron (CVX-US) fell 2.21%; Cisco (CSCO-US) fell 2.14%; Amgen (AMGN-US)) fell 2.13%.
Fei’s semicomponent stocks were mixed. Intel (INTC-US) rose 0.78%; AMD (AMD-US) fell 1.41%; Micron (MU-US) was up 1.98%; NVIDIA (NVDA-US) fell 2.27%; Qualcomm (QCOM-US) fell 0.47%; Applied Materials (AMAT-US) fell 1.51%.
Taiwan ADR shares closed higher. UMC ADR (UMC-US) was up 1.34%; TSMC ADR (TSM-US) was up 0.99%; ASE ADR (ASX-US) fell 0.47%; Chunghwa Telecom ADR (CHT-US) was up 0.05%.
Featured Stock News
Foreign media reported that Intel (INT-CU) will sell its NAND flash memory division to South Korean SK Hynix at a price of approximately US $ 10 billion, and is close to reaching a deal. Intel was up 0.78%.
American Airlines (AAL-US) was up 0.80%. The company plans to put Boeing 737 Max jets back in passenger service, but the actual situation still depends on the Federal Aviation Administration (FAA) certification of aircraft.
Halliburton (HAL-US), one of the largest oilfield services companies, fell 0.65% to $ 12.17 a share. The company’s profit in the prior quarter was better than expected, with EPS of 11 cents, but revenues did not meet expectations.
After New York State allowed some areas to reopen movie theaters, the world’s largest theater operator, AMC Entertainment, announced that some AMC locations in New York State will restart operations starting this Friday. (23), and AMC Entertainment (AMC-US) rose 16.45%.
Chinese auto dealer Kaixin Automobile (KXIN-US) was up 293.72% to $ 8.15 per share, making it the most active stock on the Nasdaq.
Economic data
- October US NAHB Real Estate Market Index reported 85.0, expected 83.0, previous value 83.0
Wall Street Analysis
Scott Wren, Senior Global Market Strategist at the Wells Fargo Investment Research Institute, said: “We will remain very sensitive to any comments related to the stimulus plan. The reason US stocks may rally (from the March low) is because we hope. There is regular better news, such as vaccines, very flexible Fed policies and stimulus measures. “
Scott Wren said: “I think these three things are very important. Democrats and Republicans have been trying to push for a new bailout plan for many weeks. However, how many stimulus measures are needed and how far should the bill go? Disagreements on general issues complicate negotiations. “
Jefferies strategist Sherif Hamid said in a report: “Many of the tiered conditions that concern us in recent weeks remain pervasive. Elections are approaching in the United States, and fiscal stimulus remains a key potential catalyst in the short-term, and progress on the virus is still correct. Long-term prospects are crucial. “
Sherif Hamid added: “A lot is likely to happen in the next few weeks, so the larger macro picture can change a lot, depending on all the progress.”
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