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US stocks started weakly this week. On Monday (30), it was reported that the Trump administration intends to increase sanctions on Chinese companies, along with strong profit-taking sentiment on Wall Street, energy stocks led the decline, aviation stocks e Industrials also underperformed, US equities declined As part of last week’s gains, the top four indices were only half-dominated, and the Dow Jones closed nearly 300 points at the bottom.
US stocks performed well in November. Inspired by news that vaccines are bullish, former Fed Chairman Yellen will become US Secretary of the Treasury, and electoral uncertainty is gradually resolved, the Dow Jones has gained 11.9% this month, the largest monthly increase since 1987.
S & P’s monthly earnings reached 10.7% and Nasdaq’s monthly earnings were 11.9%, both being the best months since April this year.
Monday (30) the performance of the four main US stock indices:
- The US Dow Jones stock index fell 271.73 points, or 0.91%, to close at 29,638.64 points.
- The S&P 500 index fell 16.72 points, or 0.46%, to close at 3,621.63 points.
- The Nasdaq index fell 7.11 points, or 0.06%, to close at 12,198.74 points.
- The Philadelphia Semiconductor Index rose 31.93 points, or 1.21%, to close at 2,663.48 points.
Focus on political and economic current affairs
The geopolitical turmoil continued on Monday. Before the elected Biden was sworn in early next year, the Trump administration reported that it was considering sanctions. He plans to blacklist SMIC and CNOOC and restrict the two companies from obtaining US investments.
President-elect Biden launched a new wave of cabinet lists on Monday (30), fighting for an experienced and diversified economic team. In addition to former Fed Chairman Yellen, who is the most popular in the outside world, he also nominated three other female members. .
Looking at the news of the general election, Arizona confirmed Monday that Biden defeated Trump and certified that Biden won 11 electoral votes. At the same time, the president of the Federal Communications Commission (FCC) Ajit Pai announced on Monday that it will be on January 20. Biden resigned the day he took office.
The Federal Reserve (Fed) on Monday asked banks to phase out the use of LIBOR as a benchmark interest rate, and some of the LIBOR-linked bonds with USD will be issued no later than June 30, 2023. The Fed it also announced that it will extend the four loan plans that expire next month to continue its financial aid efforts.
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 62.84 million and the number of deaths has exceeded 1.46 million .
The cumulative number of confirmed cases in the United States exceeds 13.38 million and the cumulative number of deaths exceeds 266,000. The hospitalization rate in 21 US states has reached a record high, with former FDA Commissioner Scott Gottlieb saying up to a third of Americans will be infected by the end of this year.
Focus actions
The five kings of science and technology only received red apples. Apple (AAPL-US) rose 2.11%; Facebook (FB-US) fell 0.30%; Alphabet (GOOGL-US) fell 1.83%; Amazon (AMZN-US) fell 0.85%; Microsoft (MSFT-US) fell 0.54%.
All 30 Dow Jones shares have fallen. Chevron (CVX-US) fell 4.52%; Dow Chemical (DOW-US) fell 4.31%; Traveler (TRV-US) fell 3.56%; JP Morgan Chase (JPM-US) fell 2.76%; Boeing (BA-USA) fell 2.67%.
Fei half component shares overpaid. AMD (AMD-US) was up 6.27%; Intel (INTC-US) was up 1.90%; NVIDIA (NVDA-US) was up 1.06%; Qualcomm (QCOM-US) rose 2.32%; Micron (MU-US) fell 0.22%.
ADRs for Taiwan stocks were mixed. TSMC ADR (TSM-US) fell 1.72%; ASE ADR (ASX-US) rose 1.14%; UMC ADR (UMC-US) rose 2.30%; Chunghwa Telecom ADR (CHT-US) fell 0.88%.
Stock Market News
AMD CEO Su Zifeng said in an interview Monday that 2021 will be a year of PC growth, and we may not have heard of it in a while. Motivated by this news, AMD soared to $ 92.66 per share, reaching a record high.
Apple rose 2.11% to $ 119.05 a share and Loop Capital upgraded Apple’s stock rating to “Buy.” Morgan Stanley said early signs are that iPhone 12 sales have exceeded expectations.
Moderna (MRNA-US) announced Monday that it has applied for an Emergency Use Authorization (EUA) from US and EU regulators, and its share price soared 20.24% to 152.74 dollars per share.
S&P Dow Jones Indices said it will announce how Tesla will be listed on the S&P after the market on Monday. Tesla fell 3.10% to $ 567.60 a share, with a market value of $ 538.28 billion, which is even higher than Berkshire Hathaway under the god of stocks.
S&P Global (SPGI-US), a financial data supply trademark, agreed on Monday (30) to acquire IHS Markit (INFO-US) in the same industry for $ 44 billion, leading to the world’s largest acquisition this year. S&P Global rose 2.99%; IHS Markit was up 7.49%.
Foreign media cited sources who revealed that the acquisition of Slack (WORK-US) by customer management software company Salesforce (CRM-US) will be officially announced after the market on Tuesday. Salesforce fell 0.74% on Monday and Slack was up 5.47%.
General Motors (GM-US) and electric vehicle maker Nikola (NKLA-US) announced a new agreement. The scale of cooperation between the two companies is less than originally expected. This is a non-binding memorandum of understanding, which is subject to further development by both parties. Discuss to reach a final agreement. The first fell by 2.71% and the second fell by 26.92%.
Wall Street Analysis
Analysts said the investment portfolio balance brought market weakness this week, due to the new crown vaccine and expectations of a rapid economic rebound next year, which will bring a strong November, and investors hope to get Profits.
CFRA chief investment strategist Sam Stovall said: “I attribute (Monday’s decline) to rising concerns about the coronavirus, and the market is trying to absorb some of the gains from last month. As the market accelerated , I was out of breath. Sometimes investors have to slow down to breathe. “
Barclays head of equity derivatives strategy Maneesh Deshpande said the three recent positives should continue to drive the market. The market welcomes Biden’s victory in the elections and the division of Congress, and the news about the effectiveness of the vaccine is much better than expected.
Maneesh Deshpande said the important thing is that corporate profits have risen unexpectedly, and this increase is expected to continue next month.
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