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As a new round of stimulus measures is about to come out, the Federal Reserve will maintain its ultra-relaxed policy stance. On Wednesday (16) US debt and the US dollar fell, crude oil and gold rose, and the four major US stock indices mixed.
The Federal Reserve (Fed) interest rate remains close to zero, indicating that with the introduction of the vaccine, the near-zero interest rate will continue until 2023. The Fed maintains the asset purchase rate until ” substantial progress is made towards price stability and full employment. “
Although the Fed revised its forecast for economic data, President Bauer did not forget to emphasize that facing the challenge of the epidemic, the next few months can be very challenging. If the economy slows, the Federal Reserve will expand asset purchases.
The US Congress is on the verge of reaching a new $ 900 billion bailout deal and may announce Wednesday that the leaders of the two parties in the United States will hold talks on stimulus and spending plans on Tuesday night.
Senate Majority Leader McConnell said the two sides have made significant progress. The plan will be approved by both houses of the bipartisan majority and may include sending a new round of cash checks to Americans.
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 before the deadline, the number of confirmed cases worldwide has skyrocketed to 73.64 million cases and the number of deaths exceeded 1.63 millions. More than 16.73 million cases have been diagnosed and the cumulative death toll has exceeded 304,000. The new corona pneumonia virus has spread rapidly in the UK.
The performance of the four major US stock indices on Wednesday (16):
- The US stock Dow Jones Index fell 44.77 points, or 0.15%, to close at 30,154.54 points.
- The S&P 500 Index rose 6.55 points, or 0.18%, to close at 3,701.17 points.
- The Nasdaq index rose 63.13 points, or 0.50%, to close at 12,658.19 points.
- The Philadelphia Semiconductor Index fell 1.37 points, or 0.05%, to close at 2,773.42 points.
Focus actions
Among the five kings of technology, Amazon and Microsoft rose. Apple (AAPL-US) fell 0.05%; Facebook (FB-US) rose 0.04%; Alphabet (GOOGL-US) fell 0.22%; Amazon (AMZN-US) was up 2.40%; Microsoft (MSFT-US) Strong increase of 2.41%.
The constituent shares of the Dow Jones fell more and rose less. Walgreen (WBA-US) fell 2.15%; Boeing (BA-US) fell 1.58%; Coca-Cola (KO-US) fell 1.45%; Development Heavy Industries (CAT-US) fell 1.23%. Salesforce (CRM-US) was up 1.58%; Home Depot (HD-US) was up 0.60%.
Fei’s half-component stocks were mixed. NXP (NXPI-US) fell 1.74%; Huida (NVDA-US) fell 0.88%. Sky News (SWKS-US) was up 1.98%; Broadcom (AVGO-US) was up 1.64%; Qualcomm (QCOM-US) was up 0.93%; Intel (INTC-US) was up 0.9%.
Taiwan ADR stock only closed UMC. TSMC ADR (TSM-US) rose 0.10%; ASE ADR (ASX-US) rose 1.07%; UMC ADR (UMC-US) fell 0.50%; Chunghwa Telecom ADR (CHT-US) was up 0.36%.
Stock Market News
JPMorgan Chase is bullish on the online advertising market in 2021 and bullish on Twitter (TWTR-US)
One of the biggest beneficiaries of the industry rebound, Twitter was up 2.29%.
The medical cannabis company Tilray (TLRY-US) and its peer Aphria (APHA-US) reached a merger agreement to become the largest cannabis pharmaceutical company in the world. Tilray was up 18.55% and Aphria was up 1.49%.
Data key
- The annual growth rate of retail sales in the United States in November reported 4.1%, the previous value decreased from 5.68% to 5.49%
- The monthly growth rate of retail sales in the United States in November reported-1.1%, expected-0.2%, the previous value decreased from 0.3% to-0.1%
- Markit’s initial US Manufacturing PMI value in December was reported at 56.5, expected to be 55.8 and previous value was 56.7
Wall Street Analysis
Dennis DeBusschere, a strategist at Evercore ISI, pointed out that the Fed’s current position is the most moderate, as relaxed as possible.
Peter Boockvar, chief executive of Bleakley Advisory Group, said that for the market, the Fed’s interest rate meeting is largely not an event because the Fed hasn’t adjusted its bonds as many investors expected. Purchase plan.
Peter Boockvar mentioned that the Federal Reserve will continue to move forward, saying that the current pace of $ 120 billion in debt purchases will not limit what they can ultimately do.
Goldman Sachs chief economist Jan Hatzius said the possibility of a deal reached by the Treasury Department has increased before the end of the year. Although we originally expected the smallest bailout bill to pass now, and the largest would have to wait until early 2021 – now. It looks like most of the plans will be approved this week.
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