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On Wednesday (18) the actions of the United States reversed. Good news from the Pfizer vaccine in early operations. Dow Jones opened slightly higher. However, with the high rate of new diagnoses in Europe and the United States, New York City announced Thursday the restart of school suspension measures. US stocks were selling violently and the Dow Jones slump closed at more than 300 points.
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 skyrocketed to 55.79 million and the number of deaths exceeded 1.34 million. . The cumulative number of confirmed cases in the United States exceeds 11.36 million and the cumulative number of deaths exceeds 248,000.
After the 7-day average diagnosis rate in New York City surpasses 3%, New York City schools will close again on Thursday to begin distance education. New York Mayor Bill de Blasio said New York City is currently in a difficult situation and must be the company’s health and safety have the highest priority.
Trump’s legal battle has not stopped. On Wednesday, Trump asked Wisconsin (Wisconsin) to do a partial count and paid $ 3 million for the ticket inspection fee. Wisconsin is expected to issue a ticket inspection order Thursday to begin a 13-day ticket inspection. period.
With no progress on the new bailout case, Tom Barkin, chairman of the Fed’s Richmond, US branch, said Wednesday that the Fed will continue to maintain its asset purchase plan, but will assess whether more quantitative easing is needed. (QE) depending on the situation. .
The performance of the four main US stock indices on Wednesday (18):
- The Dow Jones index fell 344.93 points, or 1.16%, to close at 29,438.42 points.
- The S&P 500 Index fell 41.74 points, or 1.16%, to close at 3,567.79 points.
- The Nasdaq index fell 97.74 points, or 0.82%, to close at 11,801.60 points.
- The Philadelphia Semiconductor Index fell 18.37 points, or 0.72%, to close at 2,530.59 points.
The five kings of science and technology collectively trembled and collapsed. Apple (AAPL-US) fell 1.14%; Facebook (FB-US) fell 1.10%; Alphabet (GOOGL-US) fell 1.19%; Amazon (AMZN-US) fell 0.96%; Microsoft (MSFT-US) fell 1.32%.
All 30 Dow Jones stocks are sad. Boeing (BA-US) fell 3.21%; Chevron (CVX-US) fell 3.17%; Walgreens and Boots (WBA-US) fell 2.94%; United Health (UNH-US) fell 2.16%; Honeywell (HON-US) fell 2.06%.
Shares of half of fee constituents received more minimums. AMD (AMD-US) fell 0.98%; Intel (INTC-US) fell 1.03%; NVIDIA (NVDA-US) was up 0.05%; Qualcomm (QCOM-US) fell 1.14%; Micron (MU-US) fell 2.02%.
Taiwan ADR shares closed higher. TSMC ADR (TSM-US) rose 1.27%; ASE ADR (ASX-US) rose 1.79%; UMC ADR (UMC-US) fell 0.53%; Chunghwa Telecom ADR (CHT-US) was up 0.05%.
Featured Stock News
The Pfizer (PFE-US) and BioNTech (BNTX-US) vaccines are 95% effective. They will apply for an emergency use authorization from the FDA by Friday at the latest. Delivery of the vaccine is expected to begin before Christmas. The two companies received dividends of 0.78% and 4.04% respectively.
Tesla (TSLA-US) will be listed in Standard & Poor’s before the end of the year. After its share price rose more than 8% on Tuesday, Tesla continued its gains on Wednesday, closing 10.20% at US $ 486.64 per share, close to all-time highs.
Alphabet’s CFO (GOOGL-US) said that Google’s employee productivity has returned to the pre-epidemic level, but its share price still closed 1.19% with the market.
The Federal Aviation Administration (FAA) officially approved the resumption of commercial flights in the Boeing 737 Max on Wednesday, ending the 20-month flight ban order. Morgan Stanley, however, warned that bullish sentiment from Boeing exceeded the basics. USA) took a sharp turn in recent trading, closing 3.16% at $ 203.30 per share.
Apple announced Wednesday that it would reduce App Store fees for small software developers, reducing the fee to 15%, a major change since its launch in 2008. Apple’s share price closed at 1.14. %.
General Motors (GM-US) up 1.76% General Motors is rumored to use its Ultium battery technology to build Nicolas heavy-duty electric pickup trucks and become the exclusive supplier of Hydrotec fuel cells.
Economic data
- The annualized number of new homes started in the United States in October was 1.53 million, which is expected to be 1.448 million. The previous value has risen from 1,415 million to 1,459 million.
- The annualized monthly growth rate of homes started in the United States in October reported 4.9%, the previous value was revised up from 1.9% to 6.3%
- The total number of US building permits in October was reported to be 1.545 million, which is expected to be 1.57 million. The previous value was reduced from 1,553 million to 1,545 million.
- The monthly growth rate of US building permits reported 0% in October, which is expected to be 1.6%, and the previous value decreased from 5.2% to 4.7%
Wall Street Analysis
Tim Ghriskey, chief investment strategist at Inverness Counsel, said this is a chaotic market because investors don’t know what time frame to focus on. This is a trade-off between continued short-term spread of the epidemic (6 to 9 months) and vaccinating everyone / eradicating the virus in the future.
Tim Ghriskey added that there are still many unsolved problems, but the market tends to invest in value stocks and cyclical stocks.
Adam Phillips, head of portfolio strategy at EP Wealth Advisors, said the news in recent weeks has caused market sentiment to rise to excessive optimism. Although vaccine development brings hope and clues to the end of the tunnel, it is not certain how long the dark tunnel lasts.
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