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With the exception of the Philadelphia Semiconductor Index, the other three major US stock indices opened on Friday (23). The Dow Jones Industrial Average rose 52 points or 0.2%, the Nasdaq Index rose 0.1% and then fell, and the S&P 500 Index rose 0.3. %.
Fei Ban fell almost 1% at the open on Friday, led by Intel (INTC-US). Because data center profits were not as expected, Intel’s openings plummeted more than 10%.
The long-awaited final debate of the US presidential election officially ended on Thursday. Although the two sides are still tit-for-tat, the degree of wildness in this debate has improved compared to last time. Democratic candidate Joe Biden and incumbent President Donald Trump) primarily mediate measures against the epidemic, climate change, national policies and other issues, and launch vigorous debates on China issues, but exchanges between the two do not appear to have an impact. significant in the market.
On the other hand, negotiations between the two parties on the bailout case are still ongoing. The Speaker of the US House of Representatives, Pelosi (Nancy Pelosi), said on Thursday (22) that negotiations with the White House are progressing and that the bill could be finalized soon.
According to Pelosi, and Mnuchin are close to reaching an agreement on allocating funds for testing and monitoring to ensure school safety and economic recovery, but the two parties still have three major issues that have not been resolved, including : The Democratic Party requires state and local governments. Providing aid, school funding, and the Republican Party insists on protecting corporate responsibility.
Although some market analysts believe the chances of reaching a deal before the election are small, sectors that are most sensitive to the economic outlook, such as energy and banking, still outperformed the market this week. S&P Energy rose 4.16% at the close of yesterday (22), bank stocks closed 1.88% higher and the S&P 500 index closed 0.52% higher yesterday.
Then head to the US epidemic On Thursday (22), the United States reported 72,000 confirmed cases in a single day, the highest level since the end of July. It was also the third highest number of new confirmed cases in a single day since the outbreak began. Concerns about the spread of the epidemic have been revived.
In Europe, due to the spread of the second wave of the epidemic, the governments of several countries have adopted strict anti-epidemic blockade measures and the economic outlook for the region appears to be even bleaker. The latest data from consultancy IHS Markit on Friday (23) showed that the composite PMI of the euro zone fell to 49.4 in October, indicating that manufacturing and services activities are declining.
Starting at 21 o’clock on Friday (23) Taipei time:
- The Dow Jones index rose 51.87 points, or 0.18%, temporarily to 28,415.53 points.
- Nasdaq rose 11.00 points or 0.10%, temporarily reported at 11,517.00 points
- The S&P 500 Index rose 10.87 points, or 0.31%, to 3,464.36 points temporarily
- Commissions and media fell 22.07 points-0.93%, temporarily at 2348.38 points
- TSMC ADR fell 0.39% to US $ 88.87 per share
- Yield on 10-year US Treasuries increased to 0.863%
- New York light crude oil rose 0.10% to $ 40.68 a barrel
- Brent crude rose 0.14% to $ 42.52 a barrel
- Gold rose 0.36% to $ 1,911.50 an ounce
- The US dollar index fell 0.21% to 92.765 points
Focus actions:
Intel (INTC-US) fell 11.21% in early trading to $ 47.86.
Q3 Key facts based on GAAP financial report:
- Adjusted EPS: 25% annual reduction to $ 1.02
- Revenue: Reduce 4% annually to $ 18.3 billion
- Net profit: 4.3 billion Mimoto
- Gross profit rate: 53.1%
- Operating profit: US $ 5.1 billion
Q3 Key facts based on non-GAAP financial reports:
- Adjusted EPS: 22% annual reduction to $ 1.11 vs. $ 1.11 (consensus in Refinitiv survey)
- Revenue: 4% decrease annually to US $ 18.33 billion vs. US $ 18.25 billion (consensus in Refinitiv survey)
- Net profit: 4.7 billion Mimoto
- Gross profit rate: 54.8%
- Operating profit: US $ 5.4 billion
Gilead Sciences (GILD-US) was up 3.66% in early trading to $ 62.89.
Following the emergency use authorization (USA) earlier this year, the United States Food and Drug Administration (FDA) approved Gilead’s Remdesivir on Friday (23) as a treatment for patients with new coronary pneumonia, becoming the First in America New drugs approved for coronary pneumonia.
Gilead issued a statement saying: “Veklury (brand name Remdesivir) is the first and only new drug for the treatment of coronary pneumonia approved by the FDA in the United States.” The drug has been used widely in hospitals across the country.
American Express (AXP-US) fell 2.88% in early trading to US $ 101.77.
Key facts from the third quarter financial report:
- Revenues: US $ 8,750 million, an annual decrease of 20%, higher than the US $ 8,620 million expected by Refinitiv.
- Net profit: $ 1,073 million, a 39% year-on-year decrease
- Earnings per share (EPS): US $ 1.3, a year-on-year decrease of 38%, less than the US $ 1.35 expected by Refinitiv
Daily key economic data:
- At 9:45 p.m. Taipei time, the initial Markit Manufacturing PMI for the United States will be announced in October, which is expected to be 53.4, and the previous value is 53.2.
- At 9:45 p.m. Taipei time, Markit’s initial service industry PMI value in the United States will be announced in October, which is expected to be 54.6 and the old value is 54.6
- At 9:45 p.m. Taipei time, Markit’s comprehensive PMI initial value will be announced in October, which was 54.3
Wall Street Analysis:
In response to today’s presidential debate, Seema Shah, chief strategist at Principal Global Investors, believes both sides have only solidified the fundamentals. Although they believe the market has overestimated the possibility of a “blue tide,” basically this debate will not change investors’ perception of Biden. Expectations of victory.
David Jilek, chief investment strategist at Gateway Investment Advisors, said the company now discourages anyone from trying to do something bold and warns that anything can still happen in today’s financial market.
Paul O’Connor, Director of Multiple Assets at Janus Henderson Investors, said: “The message from the market is that fiscal stimulus measures are coming, which will have a positive impact on US economic growth.” O’Connor believes that after the general election, the Democratic Party is likely to control the White House and the Senate and House of Representatives, raising optimism that a new bailout case will come up next year.
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