Christmas Eve Ali Fright Night Four Major Indices Collectively Closed Red | Anue Juheng-US Stocks



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On Thursday (24) the United Kingdom and the European Union reached a historic Brexit trade agreement. Trading was light on Christmas Eve, the US dollar weakened, the British pound strengthened, and government bond yields did not change much. The top four indices collectively closed in the red and technology performed the best, Alibaba’s ADR saw the biggest drop.

US President Trump plans to veto the US $ 900 billion stimulus bill passed by Congress, oppose the direct distribution of US $ 600 in cash, and also oppose the US $ 35 billion. Americans in clean energy research and development funds allocated in the bill. The Speaker of the US House of Representatives, Pelosi, agreed with President Trump’s proposal to hand over $ 2,000 in cash per person and criticized the Republican Party for its callous behavior.

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 skyrocketed to 78.93 million and the number of deaths exceeded 1.73 million. More than 18.49 million cases were diagnosed and the cumulative number of deaths exceeded 326,000.

On Thursday (24) the performance of the four main US stock indices:

  • The Dow Jones index of US stocks rose 70.04 points, or 0.23%, to close at 30,199.87 points.
  • The S&P 500 Index rose 14.22 points, or 0.39%, to close at 3,704.23 points.
  • The Nasdaq index rose 33.62 points, or 0.26%, to close at 12,804.73 points.
  • The Philadelphia Semiconductor Index rose 26.71 points, or 0.98%, to close at 2,750.24 points.
Among the top 11 S&P sectors, only energy stocks closed black, while other sectors rose.  (Photo: Finviz)
Among the top 11 S&P sectors, only energy stocks were black, while other sectors were on the up. (Photo: Finviz)

Focus actions

The five kings of technology mix. Apple (AAPL-US) rose 0.77%; Facebook (FB-US) fell 0.26%; Alphabet (GOOGL-US) was up 0.34%; Amazon (AMZN-US) fell 0.39%; Microsoft (MSFT-US) was up 0.78%.

The constituent shares of Dow Jones closed higher. Visa (V-US) rose 1.66%; Boeing (BA-US) fell 1.16%; Procter & Gamble (PG-US) was up 1.01%; the sales force (CRM-US) fell 0.73%; United Health (UNH-US) was up 0.95%.

Only NVIDIA and Xilinx closed the half component stocks. Qualcomm (QCOM-US) was up 1.19%; AMD (AMD-US) was up 0.29%; Intel (INTC-US) rose 1.07%; NVIDIA (NVDA-US) fell 0.08%; Micron (MU-US) was up 0.93%.

The ADR for Taiwan stocks rose across the board. TSMC ADR (TSM-US) rose 2.13%; ASE ADR (ASX-US) rose 4.36%; UMC ADR (UMC-US) rose 1.10%; Chunghwa Telecom ADR (CHT-US) was up 0.05%.

Stock Market News

After Chinese regulators announced on Thursday (24) that they had launched an antitrust investigation into Alibaba, Alibaba’s ADR closed down 13.34% at $ 222 per share on Thursday, entering a bear market, the price of lowest close since July 1.

Wall Street Analysis

Adam Crisafulli, founder of Vital Knowledge, said the market doesn’t care much about Trump’s criticism of the stimulus bill, because the veto is unlikely. Even if Trump successfully vetoed the measure, Biden will take office in just 27 days. And then you can sign the invoice.

Sam Stovall, chief investment strategist at CFRA Research, said that at least through the end of the year, the market is in autonomous driving mode and there are positive signs of rising Christmas prices.

Sam Stovall said that if the market rallies in the first five days of January next year, historical data shows that the S&P 500 Index is up 82% for the year, with an average increase of 12.5%. Michael Arone, chief investment strategist at State Street Global Advisors, said he doesn’t strongly believe the first days of January will set the direction for the rest of the year.

A hearty reminder from Ju Heng: On Christmas Day, December 25, US stocks will be closed for one day.




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