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On Thursday (10) the number of people receiving unemployment benefits in the United States reached a maximum of three months and Congress could not reach a consensus on a new stimulus plan. Wall Street sparked concerns about the economic recovery. Verizon and IBM led the fall. US stocks Dow Jones and S&P Hefei Ban’s three major indices closed in the black, and only the Nasdaq, which is dominated by tech stocks, closed slightly in the red.
In terms of economic stimulus, the US Congress has made little concrete progress. Senate Majority Leader McConnell refused to accept the bipartisan bailout plan promoted by the Democratic Party. The House of Representatives will suspend the session until at least next Tuesday.
On Tuesday (8), Texas Attorney General Ken Paxton directly filed a lawsuit in the United States Supreme Court, accusing the four swing states of Pennsylvania, Georgia, Michigan and Wisconsin that the government elections were unconstitutional, and the four undecided states urged the highest on Thursday. The court will not accept this case because it will deprive voters of the right to vote.
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 69.35 million and the number of deaths has exceeded 1.57 million . The United States has accumulated more than 15.52 million cases were diagnosed and the accumulated number of deaths exceeded 291,000.
On Thursday (10) the performance of the four main US stock indices:
- The Dow Jones index fell 69.55 points, or 0.23%, to close at 29,999.26 points.
- The S&P 500 Index fell 4.72 points, or 0.13%, to close at 3,668.10 points.
- The Nasdaq index rose 66.86 points, or 0.54%, to close at 12,405.81 points.
- The Philadelphia Semiconductor Index fell 1.10 points, or 0.04%, to close at 2,733.67 points.
Focus actions
Only Apple is the only one of the five kings of technology. Apple (AAPL-US) was up 1.20%; Facebook (FB-US) fell 0.29%; Alphabet (GOOGL-US) fell 0.57%; Amazon (AMZN-US) fell 0.087%; Microsoft (MSFT-US) fell 0.60%.
All 30 Dow Jones stocks received more blacks. Chevron (CVX-US) rose 3.22%; Verizon (VZ-US) fell 1.55%; IBM (IBM-US) fell 1.44%; United Health (UNH-US) fell 1.38%; Traveler (TRV-US) Increased by 1.33%.
Fei’s semicomponent stocks were mixed. AMD (AMD-US) was up 2.04%; Intel (INTC-US) rose 0.38%; NVIDIA (NVDA-US) was up 0.32%; Qualcomm (QCOM-US) fell 0.17%; Micron (MU-US) fell 0.18%.
The ADR for Taiwan stocks also moved up and down. TSMC ADR (TSM-US) fell 0.17%; ASE ADR (ASX-US) rose 3.03%; UMC ADR (UMC-US) fell 2.69%; Chunghwa Telecom ADR (CHT-US) was up 0.24%.
Stock Market News
The well-known shared housing platform Airbnb (ABNB-US) was listed on the Nasdaq stock exchange on Thursday (10), and its share price received a dividend of 112.81% to $ 144.71 per share, twice as high. than the issue price of $ 68 per share.
DoorDash (DASH-US) traded yesterday on its honeymoon market and its share price fell 2.11% to $ 186.00 a share on Thursday.
Shares of Best Buy (BBY-US) fell 1.68%. Goldman Sachs’ bearish report mentioned that Best Buy is one of the best-managed retailers, but stocks are highly valued and recent sales growth will be difficult to sustain. Downgraded Best Buy stock to “sell.”
Tesla (TSLA-US) rose 3.74% on Thursday to $ 627.07 a share, the third highest ever.
Economic data
- The United States reported 853,000 initial unemployment benefits last week (December 5) and an expected 725,000. The previous value rose from 712,000 to 716,000.
- The United States reported last week (11/28) 5.757 million unemployment benefits, which are expected to be 5.21 million. The previous value rose from 5.52 million to 5.527 million
- The annual growth rate of the US CPI in November reported 1.2%, the previous value was 1.2%
- The monthly growth rate of the CPI in the United States in November reported 0.2%, which is expected to be 0.1%.
- The annual growth rate of the US core CPI in November was 1.6%, 1.5% expected, 1.6% earlier
- The monthly growth rate of the US core CPI in November registered 0.2%, which is expected to be 0.2%, and the previous value rose from 0% to 0.2%.
Wall Street Analysis
Investment bank Jefferies said we tend to believe that based on the epidemic trend, we will see a steady rise in more initial jobless claims.
Richard Flynn, managing director at Charles Schwab, said people are concerned about the potential short-term impact of financial aid measures to ease the surge in the United States and abroad.
Richard Flynn said the question now is whether any more disappointing employment data will increase the urgency for Congress to pass the emergency stimulus package, or will we see side effects of the negotiations through the first half of 2021.
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