[ad_1]
According to the STAT report on the medical website, the University of Chicago Hospital targeted critically ill patients with new coronary pneumonia (COVID-19) using the antiviral drug “Remdesivir” from the biopharmaceutical company Gilead. All the patients recovered quickly and were discharged.
The news boosted investor confidence, and if the drug can effectively treat pneumonia, the blocking measures will be lifted early, and the timetable for reopening economic activity is also expected to accelerate and prevent further economic deterioration.
On Friday (17), US stocks continued yesterday’s gains, all four major indexes rose in early trading, Dow Jones rose more than 500 points and TSMC ADR rose 2.41%.
US economic activity restarts. USA
On Thursday (16), the President of the United States, Trump, issued a three-stage economic restart guide, stipulating that states and regions can relax restrictive measures to contain the new crown epidemic in phases in multiple conditions, how to meet testing standards and provide epidemic prevention teams as soon as possible.
According to the guide, the “first stage” is to restore businesses in restaurants, theaters, etc., and the “second stage” includes the restoration of school and organizational activities, and the restoration of unnecessary travel and selective hospitalization. The “third stage” will greatly relax restrictive measures and reopen bars, stadiums and large venues while maintaining social distance.
Starting at 10 p.m. on Friday (17), Taipei time:
- The Dow Jones index rose 556.34 points or 2.36%, temporarily reported 24094.02 points
- Nasdaq rose 103.76 points or 1.22%, temporarily reported 8,636.12 points
- S&P 500 rose 55.15 points or 1.97%, temporarily reported 2,854.70 points
- Fees increase half by 19.24 points or 1.15%, temporarily reported at 1710.28 points
- TSMC ADR rose 2.41% to $ 53.64 per share
- The performance of the US Treasury. USA At 10 years it increased to 0.613%
- New York light crude fell 11.47% to $ 17.59 a barrel
- Brent crude rose 0.32% to $ 27.91 per barrel
- Gold fell 0.87% to US $ 1,716.70 per ounce
- The US dollar index fell 0.31% to 99,785 points
Focus actions:
Apple (AAPL-US)
Apple fell 0.38% in early trading to $ 285.61.
Goldman Sachs Group analyst Rod Hall downgraded Apple’s stock rating on Friday (17) from “Neutral” to “Sell” and lowered its price target from $ 250 per share to $ 233.
Hall said that demand for smartphones is expected to drop sharply in mid-2020 and begin to recover in early 2021. Also, as the economic downturn encourages consumers to pay more attention to cost considerations, it is expected that the growth of the average smartphone sales price (ASP) is also limited. Hall estimated that Apple’s earnings per share in fiscal year 2020 will reach $ 11.31, and in fiscal year 2021 they will reach $ 13.13 per share.
Boeing (BA-USA)
Boeing rose 8.86% in early operations to hit $ 146.02.
Boeing announced on Thursday (16) that it plans to resume production of commercial aircraft at its Seattle-area plant as soon as next Monday (20). Some 27,000 employees at the Seattle plant will resume work, representing approximately 17% of Boeing’s total workforce. Production of 747, 767, 777 and 787 aircraft will resume at the plant.
The epidemic has sunk United States air travel demand by 95% compared to the previous year, and Boeing’s revenue is also expected to drop sharply this year.
Prometheus (PG-US)
Baojie fell 0.26% in early trading to hit $ 121.25.
Baojie announced on Friday (17) the financial report for the third quarter of fiscal year 2020. Due to the severe pneumonia epidemic in the United States, consumers were accumulating and hoarding daily necessities like toilet paper. The third quarter grew 10% and total revenues reached US $ 17.21 billion.
Baoying’s third-quarter net after-tax profit reached $ 2.92 billion, and earnings per share was $ 1.17, which was higher than Wall Street analyst estimates at $ 1.13. In addition, Baoyue also announced a 6% increase in the amount of dividends. However, due to the impact of exchange rate changes on the company’s revenue, Baoyue reduced its estimated revenue for 2020.
Key economic data for today:
None
Wall Street Analysis:
Investors generally believe that only news about pneumonia drug or vaccine development can support the continued rise in the stock market. In response to news of the good results of the “redoxivir” clinical trial, Leuthold Group strategist Jim Paulsen said that if the drug can prevent infection or reduce symptoms of the outbreak, it will promote economy at a faster rate and more completely. restored to normal levels.
Despite this, analysts at Xiaomo and Barclays Bank conservatively believe that while the news of the good drug test is quite positive and exciting, the test results only come from a single hospital, and many problems remain to be solved. . . But Barclays Bank still said that, hopefully, the results of the drug trial will become a key bridge to the development of vaccines against pneumonia.
[ad_2]
