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Wall Street looked turbulent on Friday (2). After the confirmed news from Trump caused the October surprise, funds flowed into safe-haven assets like the US dollar, Japanese yen and gold. The VIX panic index rose more than 3% and tech and chip stocks were slaughtered.
Although House Pelosi raised hopes for a new stimulus bill, the top four indexes converged on some of their declines. In the end, the Dow Jones still closed more than 100 points. ADRs for Taiwan stocks suffered a setback, with rates falling more than 3% in seven consecutive transactions. Look at the dark on the first day.
In the 33-day countdown to the US presidential election, Trump brought another black swan. After Trump confirmed that he was diagnosed with a new coronary pneumonia, the White House responded that Trump is experiencing mild cold symptoms and is in a good mood.
After hours, the White House announced that Trump went to Walter Reed Hospital in Maryland for observation and will work at the hospital, and the outside world still has questions about his health.
Fortunately, Vice President Pence, Secretary of the Treasury May Mnuchin and Democratic candidate Biden all tested negative for the virus.
House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continue to negotiate the bailout, and negotiations will continue through the weekend.
Pelosi also said Friday that the aviation industry assistance deal is coming to an end, prompting aviation stocks to soar on Friday.
The outside world is also concerned about the current situation of Fed Chairman Bauer. A Fed spokesperson stated that Bauer currently works from home and went to Congress for a hearing last week, but they all wear masks to comply with epidemic prevention regulations and have not interacted with any new crown patients. Contact.
The global epidemic of new corona pneumonia (COVID-19) continues to spread. Before the deadline, according to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 34.3 million and the number of deaths has exceeded 1.02 million . There are more than 7.28 million confirmed cases in the United States and the cumulative number of deaths exceeds 207,000.
Friday (2) the performance of the four major US stock indices.：
- The Dow Jones index fell 134.09 points, or 0.48%, to close at 27,682.81.
- The S&P 500 Index fell 32.36 points, or 0.96%, to close at 3,348.44 points.
- The Nasdaq index fell 251.49 points, or 2.22%, to close at 11,075.02 points.
- The Philadelphia Semiconductor Index fell 70.65 points, or 3.08%, to close at 2,221.12 points.
The big five tech giants collectively fell. Apple (AAPL-US) fell 3.23%; Microsoft (MSFT-US) fell 2.95%; Amazon (AMZN-US) fell 2.99%; Alphabet (GOOGL-US) fell 2.17%; Facebook (FB-US) fell 2.51%.
The constituent shares of Dow Jones were mixed. Amgen (AMGN-US) fell 3.91%; Dow Chemical (DOW-US) was up 2.60%; Salesforce (CRM-US) fell 2.21%; Wal-Mart (WMTUS) fell 1.80%; Caterpillar (CAT-US) rose 2.20%.
Half component Fei scared whole blood wash. Micron (MU-US) fell 2.86%; AMD (AMD-US) fell 3.61%; Intel (INTC-US) fell 2.35%; NVIDIA (NVDA-US) fell 4.06%; Qualcomm (QCOM-US) fell 3.39%; Applied Materials (AMAT-US) fell 4.02%.
Taiwan ADR shares closed at the same time. UMC ADR (UMC-US) fell 2.63%; TSMC ADR (TSM-US) fell 2.21%; ASE ADR (ASX-US) fell 2.89%; Chunghwa Telecom ADR (CHT-US) fell 0.03%.
Featured Stock News
Tesla delivered 139,300 vehicles in the third quarter, a record, but its share price fell more than 7% to $ 415.09 a share after the broader market for tech stocks. Gordon Johnson, founder of GLJ Research, said that Tesla is losing market share in the European Union and China, and investors are waking up.
Biotech company Regeneron Pharmaceuticals (REGN-US) closed down 0.59% and its shares were up more than 3% after the market. The White House physician released a statement that Trump was experiencing mild discomfort and is currently receiving Regeneron REGN-COV-2 double-antibody cocktail therapy as a treatment.
Activision Blizzard (ATVI-US) fell 5.30%, the company’s popular “World of Warcraft” series will be postponed to the end of this year, but did not give a specific time.
American fitness equipment startup Peloton (PTON-US) more than doubled its subscription revenue in the second quarter to more than 1 million, and its share price increased more than 2.20%.
Economic data
- The United States reported 661,000 new non-farm jobs in September, which is expected to be 865,000 and the previous value was 1,371 million
- The US unemployment rate in September reported 7.9%, it is expected to be 8.2% and the previous value 8.4%
- The average hourly wage increase rate in September in the United States reported 4.7%, which is expected to be 4.8%, and the previous value is 4.7%
- The average rate of hourly wage increase in September in the United States reported 0.1%, which is expected to be 0.2%, and the previous value is 0.4%
- The average weekly working hours in the United States in September is reported to be 34.7 hours, which is expected to be 34.6 hours, and the above value is 34.6 hours
- The final value of US consumer confidence in September was 80.4, expected 79.0 and the previous value 78.9
- The monthly growth rate of US factory orders in August registered 0.7%, which is expected to be 1.0%, and the previous value is 6.4%.
Wall Street Analysis
Kit Juckes, a macro strategist at Societe Generale, said non-farm data indicates that work is picking up, but the pace has slowed.
Analysts said the results of Trump’s diagnosis also remind the market that the virus is far from being controlled and remains the biggest risk to the economy, prospects, policies and the election itself.
Peter Mallouk, president and CEO of Creative Planning, believes the lack of new stimulus bills so far may have a ripple effect on the economy. The more confident we are that it will take longer than expected to resolve the new crown problem, the more likely we are to see more stimulus measures. The events that occurred during the night made everyone understand this and made it easier for the two parties to reach an agreement.
JJ Kinahan, chief market strategist at TD Ameritrade, said the new corona virus is more important than any incident in the market because it affects all areas of our lives, including employment data. This is front page news. Any positive or negative news will make. The market is volatile.
Francois Savary, chief investment officer at Prime Partners, a Swiss wealth management company, said the duration of this hedging behavior depends on how much influence he has in the White House. It will pressure the market today and early next week, but if Trump’s illness is controlled. , It will not cause a long-term correction.
Art Cashin, a half-century Wall Street veteran and head of the UBS trading floor, said travel and leisure stocks are the most direct risks.
Art Cashin predicts that Trump, who has the most doctors and the most protected in America, has been diagnosed. Fighting the epidemic may be much more difficult than investors imagined. The safety of air cruises will be questioned.
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