[ad_1]
On Thursday (29), the third quarter GDP data for the United States was the best since World War II. Energy leaders and chip stocks rallied. US stocks recovered from yesterday’s sell off. The four main indices increased collectively and rates increased by more than 2.7%. Dow Jones closed with more than 100 points, marking the first time it received dividends in five business days.
With less than a week to go until the 2020 U.S. presidential election, House Speaker Pelosi urged U.S. Treasury Secretary Mnuchin to resume talks and reach an agreement after the election.
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 44.61 million and the number of deaths has exceeded 1.17 million . The cumulative number of confirmed cases in the United States exceeds 8.86 million and the cumulative number of deaths exceeds 227,000.
The average daily number of cases in the United States has reached a record high, and the number of daily deaths in Tennessee and Idaho has reached record levels. The American public health expert Fauci pointed out that in the coming months, the new corona epidemic will bring a lot of pain.
Thursday (29) the performance of the four major US stock indices:
- The Dow Jones index rose 139.16 points, or 0.52%, to close at 26,659.11 points.
- The S&P 500 Index rose 39.08 points, or 1.19%, to close at 3,310.11 points.
- The Nasdaq index rose 180.72 points, or 1.64%, to close at 11,185.59 points.
- The Philadelphia Semiconductor Index rose 60.67 points, or 2.73%, to close at 2,283.65 points.
The big five tech giants collectively ascended. Apple (AAPL-US) was up 3.71%; Microsoft (MSFT-US) rose 1.01%; Amazon (AMZN-US) was up 1.52%; Alphabet (GOOGL-US) was up 3.05%; Facebook (FB-US) was up 4.92%.
The constituent shares of Dow Jones closed higher. Walgreens and Boots (WBA-US) fell 3.92%; Chevron (CVX-US) rose 2.87%; Disney (DIS-US) was up 2.59%; Dow Chemical (DOW-US) rose 2.37%; Carter Pilar (CAT-US) rose 2.32%.
The shares that make up half of the fees performed strongly. AMD (AMD-US) was up 2.12%; Midman Electronic Technology (MRVL-US) fell 3.34%; Intel (INTC-US) fell 0.32%; Micron (MU-US) was up 0.94%; Xilinx (XLNX-US) Up 2.61%; NVIDIA (NVDA-US) was up 3.08%; Qualcomm (QCOM-US) was up 3.99%.
The ADR for Taiwan stocks was mixed. UMC ADR (UMC-US) fell 1.45%; TSMC ADR (TSM-US) was up 1.24%; ASE ADR (ASX-US) rose 2.58%; Chunghwa Telecom ADR (CHT-US) fell 0.11%.
Featured Stock News
Apple (AAPL-US) announced financial results after hours, net earnings per share was 73 cents and revenue was $ 64.7 billion, both better than Wall Street expectations. However, revenues in the Greater China region reached US $ 7.95 billion, much lower than in the same period last year. $ 11.13 billion, and Apple did not provide financial estimates, its stock price fell more than 5% after the market.
Shares of Exxon Mobil (XOM-US) rose 4.43% on Thursday. The company announced that as the oil giant continues to be affected by the epidemic, it will lay off approximately 1,900 American employees.
Pinterest (PINS-US) was up 28.20%. The latest social media player with better-than-expected earnings reported a 58% increase in revenue in the third quarter, which was significantly faster than the 4% growth in the second quarter.
EBay’s latest earnings report was both better than expected earnings and income. Adjusted net earnings per share was 85 cents and revenue was $ 2.61 billion.
Spotify (SPOT-US) fell 3.36%. The company’s financial report loss was slightly higher than expected, with a loss of 68 cents a share in the third quarter, which was less than Wall Street’s expected loss of 62 cents a share.
Marvell (MRVL-US) fell 3.34% to $ 38.21 a share. US media reported that the company will acquire the chipmaker Netcom Inphi for $ 10 billion to enter the cloud and the 5G battlefield.
On Wednesday, UMC admitted to helping China’s Jinhua steal Micron’s trade secrets and reached a settlement with the United States Department of Justice, fined $ 60 million and suspended for 3 years in exchange for a secret agreement to cooperate with the United States government.
Economic data
- The initial value of the US Q3 GDP quarterly growth rate was 33.1%, expected to be 32.0%, and the previous value -31.4%
- US Q3 Quarterly PCE Growth Rate Initially Reported 3.7%, Previous Value-1.6%
- US Q3 Core PCE Quarterly Growth Rate Initially Reported 3.50%, 4.0% Expected, Previous Value-0.8%
- The United States reported last week (10/24) 751 thousand initial unemployment benefits and an expected 770 thousand. The previous value rose from 787,000 to 791,000
- The United States reported last week (10/17) 7.756 million renewed unemployment benefits, which are expected to be 7.775 million. The previous value rose from 8,373 million to 8,465 million.
Wall Street Analysis
According to Refinitiv data, more than 260 S&P components have published their latest financial reports, and 85% of companies reported better-than-expected financial reports. After Thursday, Apple, Amazon, Facebook and Alphabet will announce their latest earnings results.
Tim Ghriskey, chief investment strategist at Inverness Counsel, said today is the big day for the tech giants, who are looking forward to their financial reporting reports. So far, the financial reporting season has seen notable surprises. We believe this will help drive today’s rally as the market expects these companies to bring surprises.
According to Paul Ashworth, chief economist at Capital Economics, overall, after the first wave of lockdowns was lifted, the initial recovery in gross domestic product (GDP) was stronger than expected.
According to Paul Ashworth, with the number of people infected with the virus reaching a record high in recent days, and no additional fiscal stimulus measures will be implemented until early next year at the earliest, further improvements in data will be much slower. .
[ad_2]
