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On Tuesday (15) the new stimulus negotiations are expected to reach an agreement, the FDA will soon authorize the use of the Moderna vaccine and Wall Street is optimistic.
Crude oil, gold were up, the US dollar weakened, US Treasury yields were up and utilities led the overall market. The top four indices were up more than 1%. Apple rose sharply. The Nasdaq hit a record. The Dow Jones rose more than 300 points and came back. The 30,000 point mark was the strongest day since November 24.
US House Speaker Pelosi invited key Congressional leaders, including Senate Majority Leader McConnell, Senate Minority Leader Schumer, and House Minority Leader McCarthy to a meeting Tuesday to reach an agreement on stimulus plans and spending.
Senators and representatives from both parties announced a $ 908 billion compromise bill on Monday. One of the plans is for $ 748 billion, including subsidies for the unemployed in small businesses. The other $ 160 billion split involves making the two parties. Terms that have fallen into serious disagreement include assistance to state and local governments, and corporate exemptions.
After the US Electoral College announced the voting results on Monday, although US President Trump was still unwilling to admit defeat, Senate Majority Republican Leader McConnell voiced his stance. on Tuesday, congratulating Biden on winning the presidential election and warning Republicans not to deny Biden won the election.
The global epidemic of new corona pneumonia (COVID-19) continues to have a fever. According to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 73.21 million and the number of deaths has exceeded 1.62 million. The United States has accumulated More than 16.59 million cases have been diagnosed and the accumulated number of deaths has exceeded 302,000. The new corona pneumonia virus has spread rapidly in the United Kingdom.
Tuesday (15) the performance of the four main stock indices of the United States:
- The Dow Jones index rose 338.95 points, or 1.14%, to close at 30,200.50 points.
- The S&P 500 Index rose 46.51 points, or 1.28%, to close at 3,694.00 points.
- The Nasdaq index rose 155.02 points, or 1.25%, to close at 12,595.06 points.
- The Philadelphia Semiconductor Index rose 38.54 points, or 1.41%, to close at 2,774.79 points.
Focus actions
The five kings of technology, led by Apple, emerged. Apple (AAPL-US) was up 5.01%; Facebook (FB-US) rose 0.50%; Alphabet (GOOGL-US) was up 0.50%; Amazon (AMZN-US) rose 0.26%; Microsoft (MSFT-US) fell 0.033%.
Dow Jones constituent stocks performed well. Disney (DIS-US) was up 2.74%; Traveler (TRV-US) was up 2.44%; Nike (NKE-US) rose 2.28%; Development Heavy Industry (CAT-US) was up 2.07%.
Fei’s semi-constituent shares collectively received dividends. Qualcomm (QCOM-US) was up 1.41%; AMD (AMD-US) was up 2.47%; Intel (INTC-US) rose 0.38%; NVIDIA (NVDA-US) was up 0.40%; Micron (MU-US) was up 2.26%.
Taiwan ADR stock only closed UMC. TSMC ADR (TSM-US) was up 1.48%; ASE ADR (ASX-US) rose 1.44%; UMC ADR (UMC-US) fell 3.41%; Chunghwa Telecom ADR (CHT-US) was up 0.76%.
Stock Market News
Chinese tech giant Baidu (BIDU-US) is considering producing its own electric vehicles and has negotiated with automakers such as Zhejiang Geely and Guangzhou Automobile. Baidu (BIDU-US) jumped 13.83% to US $ 185.50 per share.
Apple’s 5G (AAPL-US) version of the iPhone 12 series is selling well. The company plans to increase its production by 30% to 96 million units in the first half of next year, encouraging its share price to skyrocket by more than 5% on Tuesday to US $ 127.88 per share, reaching 9. A new high came on March 3.
The US Food and Drug Administration (FDA) stated that Moderna vaccine is highly effective and the company is expected to obtain emergency clearance as soon as 18 days. It is worth mentioning that FDA officials suggested adding “Bell’s Palsy” to the Pfizer and Moderna vaccination guidelines, but the information currently available is insufficient to determine the causal relationship between the disease and the vaccine. Moderna (MRNA-US) fell 5.06% and Pfizer (PFE-US) fell 1.28%.
Eli Lilly and Company (LLY-US) acquired Prevail Therapeutics (PRVL-US) for $ 1 billion to expand its business in the lucrative field of gene therapy. Eli Lilly was up 6.04% on Tuesday and Prevail Therapeutics was up 82.00%.
Data key
- New York Fed December Manufacturing Index reported 4.9, expected 6.9, previous value 6.3
- The monthly growth rate of US industrial production in November was 0.4%, which is expected to be 0.3%. The previous value was revised down from 1.1% to 0.9%.
Wall Street Analysis
On Tuesday, the S&P 500 Utilities Index posted its biggest one-day gain since early November, and the Russell 2000 Index hit a new high. 6 Andrew Mies, chief investment officer at Meridian, believes the capital market is skewed toward utilities, and the general rise in the entire equity market is a healthy sign.
Lindsey Bell, chief investment strategist at Ally Invest, said the new stimulus remains the focus of the market because it is a necessary bridge to large-scale vaccination. Given the expected economic data, the market hopes to reach a deal as soon as possible. . If no agreement is reached, volatility can increase.
Opimas Chief Executive Octavio Marenzi said: “I think Congress will find a way. Whether Republican or Republican, the White House is interested in getting something out of it. Now, whether it’s as big as expected or more symbolic.” . , I think it’s really not that important. I think it has something to do with psychology. “
Octavio Marenzi emphasized: “It is more important to pay close attention to the Fed and what they are doing, because I think this is what really pushed the market in the last six months. The Fed has been injecting liquidity.”
David Waddell, chief investment strategist at Waddell and Associates, a wealth consulting firm, said: “We may have seen the Christmas market, so the market generally picks up from now until the end of the year. accelerating again, but the increase is very strong. I won’t be surprised. “
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