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As key to the US Congress, investors are paying close attention to the Georgia senator’s runoff. US stocks rose after flat turbulence on Tuesday (5). The Dow Jones Industrial Average rose more than 100 points or 0.4%, and the Nasdaq Index rose 0.3%, the S&P 500 Index rose 0.4% and rates rose 0.8%.
The two senatorial candidates from Georgia will appear Tuesday to decide whether the Democratic or Republican party will ultimately control the Senate. The market predicts that the Democratic Party victory will help push for more fiscal stimulus measures, but it may also pave the way for the tax increases and regulatory policies demanded by the Biden administration.
In addition, the United States Congress will count the results of the Electoral College on Wednesday (6). Vice President Pence will chair a joint meeting of the two houses to oversee the process of certifying the results of the Electoral College. The market predicts that Congress will formally announce the election of Biden as president of the United States.
The new coronavirus variant continues to cause the number of confirmed cases worldwide to remain high. On Monday (4), British Prime Minister Johnson & Johnson ordered England to enter the third round of lockdown. The German government also intends to extend the epidemic prevention ban period. Additionally, New York State Governor Andrew Cuomo confirmed Monday that the latest case of the mutant virus was found for the first time in the state.
Starting at 10:00 p.m. on Tuesday (5) Taipei time:
- The Dow Jones Index rose 121.37 points, or 0.40%, to 30,345.26 points temporarily.
- Nasdaq rose 42.22 points, or 0.33%, temporarily to 12,740.67 points
- The S&P 500 Index rose 13.92 points, or 0.38%, to 3,714.57 points temporarily
- Commissions and a half rose 23.26 points or 0.84%, temporarily to 2806.47 points
- TSMC ADR increased 2.65% to $ 114.67 per share
- Yield on 10-year US Treasuries increased to 0.930%
- New York light crude oil rose 2.33% to $ 48.73 a barrel
- Brent crude rose 1.96% to $ 52.09 a barrel
- Gold rose 0.33% to $ 1,953.10 an ounce
- The US dollar index fell 0.16% to 89.705 points.
Focus actions:
Micron (MU-US) was up 3.7% in early trading to $ 76.79.
On the eve of the release of the latest quarter earnings report, top memory maker Micron received a series of updates from investment banks on Tuesday. Citigroup upgraded Micron’s stock rating from “sell” to “buy,” and hit the target price raised twice from $ 35 to $ 100.
Additionally, Deutsche Bank raised Micron’s price target from $ 75 to $ 85, and Royal Bank of Canada’s investment bank raised the target price from $ 57 to $ 83.
Mondelez International (MDLZ-US) fell 0.12% in early trading to US $ 57.85.
The Wall Street Journal cited people familiar with the matter as revealing that Mondelez International, the global food giant responsible for producing Oreo and Ritz cookies, is about to finalize the purchase agreement for chocolate bar maker Hu Master. The value of the transaction is expected to exceed $ 250 million as announced this week as soon as possible.
First Solar (FSLR-US) fell 4.41% to US $ 96.78 in early trading.
Goldman Sachs (Goldman Saxhs) downgraded First Solar’s stock rating from “Buy” to “Sell” on Monday, believing that the company’s revenue and profit margins have peaked and that cyclical resistance is emerging. deal.
Daily key economic data:
- At 23:00 Taipei time, the December US ISM Manufacturing PMI will be announced, which is expected to be 56.5 and the previous value 57.5
Wall Street Analysis:
CFRA chief investment strategist Sam Stovall said investors are adopting a wait-and-see attitude. There are many things worth paying attention to. In addition to the US elections, different strains of the new coronavirus are causing panic around the world.
Oppenheimer strategist John Stoltzfus believes that once Democrats win two key Senate seats, it can trigger a market sell-off. Oppenheimer predicts that the S&P 500 Index could fall between 6% and 10%, and said the market prefers that Congress have enough checks and balances to ensure that political power does not fall into the hands of a single party.
Commerzbank analyst Esther Reichelt said that if Democrats win the presidential election and Georgia’s runoff at the same time, it will increase the possibility of further fiscal stimulus and cause the dollar to weaken; if the Republicans win, the dollar will continue to fall, but it will fall. The speed will decrease.
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