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On Monday (28), US President Trump formally signed a $ 900 billion economic stimulus bill, which prevented a government shutdown and provided much-needed boost for economic recovery. Yields on 10-year US Treasuries rose and a new week began for US stocks. Good performance.
Travel, aviation and cruise stocks rose, Apple led the rise, UMC ADR soared more than 4% and the Dow Jones, S&P and Nasdaq indices hit record highs. The S&P 500 Index is up 15.6% this year, the Dow Jones Index is up 6.6% and the Nasdaq has soared 43.7% so far.
The U.S. House of Representatives will vote Monday on the $ 2,000 ransom check bill, but even if the bill passes, the Republican-controlled Senate is expected to veto it.
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 exceeded 81.1 million and the number of deaths has exceeded 1.77 million. The United States has accumulated more than 19.22 million cases were diagnosed and the accumulated number of deaths exceeded 334,000.
Monday (28) the performance of the four main US stock indices:
- The Dow Jones index rose 204.10 points, or 0.68%, to close at 30,403.97 points.
- The S&P 500 Index rose 32.30 points, or 0.87%, to close at 3,735.36 points.
- The Nasdaq index rose 94.69 points, or 0.74%, to close at 12,899.42 points.
- The Philadelphia Semiconductor Index fell 5.94 points, or 0.22%, to close at 2,744.30 points.
Focus actions
The five kings of science and technology are like a rainbow. Apple (AAPL-US) was up 3.58%; Facebook (FB-US) rose 3.59%; Alphabet (GOOGL-US) was up 2.30%; Amazon (AMZN-US) rose 3.51%; Microsoft (MSFT-US) was up 0.99%.
The constituent shares of the Dow Jones rose more and fell less. Disney (DIS-US) was up 2.96%; Visa (V-US) rose 1.88%; United Health (UNH-US) was up 1.51%; Coca-Cola (KO-US) rose 1.33%; Goldman Sachs (GS-US) was up 1.32%.
The shares of half of the components of the fee received more minimums. Qualcomm (QCOM-US) fell 0.71%; AMD (AMD-US) fell 0.23%; Intel (INTC-US) was stable; NVIDIA (NVDA-US) fell 0.72%; Micron (MU-US) was up 0.11%.
Taiwan ADR shares collectively received dividends. TSMC ADR (TSM-US) rose 0.066% to US $ 106.15 per share, the second highest ever. UMC ADR (UMC-US) was up 4.22%; ASE ADR (ASX-US) rose 2.96%; Chunghwa Telecom ADR (CHT-US) was up 1.23%.
Stock Market News
Chinese regulators launched an antitrust investigation into Alibaba on Thursday (24). On Monday, Alibaba announced that it will expand the size of its treasury shares from $ 6 billion to $ 10 billion. A 2-year period to the end of 2022, Alibaba ADR (BABA-US) closed 0.16% higher on Monday.
Tianfeng International analyst Ming-Chi Kuo believes that Apple Car will not be released until 2028, rather than the rumored 2024. Currently, the market is overly optimistic about Apple Car. Despite this, Apple rose higher. from 3.58% to $ 136.69 a share on Monday, a record high, and its market value reached $ 2.32 trillion.
Novavax announced that its new crown vaccine has entered an advanced stage, recruiting up to 30,000 testes from approximately 115 locations in the United States and Mexico. Novavax (NVAX-US) fell 9.66%.
The UK is expected to approve this week the new corona vaccine developed jointly by AstraZeneca and Oxford University AstraZeneca (AZN-US) was up 1.77%.
Anticipating a pick-up in travel demand next year, JPMorgan Chase acquired the travel and incentive business of cxLoyalty, a manager of the credit card incentive program. JPMorgan Chase (JPM-US) was up 0.66%.
Weibo (WB-US) fell 13.50% on Monday to $ 38.33 a share. The company released a better-than-expected financial report for the third quarter of 2020, with net revenue of $ 465.7 million, but the growth rate of average daily active users slowed.
Economic data
Dallas Fed Manufacturing Activity Index reported at 9.7, expected 10.2, previous value 12.0
Wall Street Analysis
US President Trump officially signed a US $ 900 billion economic stimulus bill. On Monday, the US Treasury yield curve was slightly steep. Goldman Sachs currently considered that thanks to this new round of stimulus, the GDP (gross domestic product) of the United States is expected to grow in the first quarter. 5%.
Bridge Advisors chief investment officer James Meyer said that while the benefits of the stimulus bill will not be immediately reflected in data released in December next week, US stocks will remain stable and higher as prices rise. Investors see that the one-month tax bill will be resolved.
Tom Essaye, founder of Sevens Report Research, believes the top five bulls of the stock market surge (federal stimulus bill, FOMC stimulus plan, vaccine launch, government split, and no W-shaped recession) they are still there to a great extent. Before these changes, the US stocks in the medium and long term The outlook will be positive.
Terry Sandven, chief equity strategist at Bank of America Wealth Management, said the stock market appears to be expected to close by the end of the year. The government has introduced new stimulus measures to provide some degree of protection for economic stability. In response to the new corona virus (Covid-19), medical advances continue to unfold. The environment is good for the stock market.
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