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The main indices rose again on Wednesday (9). The Dow Jones Industrial Average was up more than 100 points, or 0.4%, and the S&P 500 was up 0.2%. Both reached new all-time highs. The Nasdaq and the Fiscal fell respectively. 0.14% and 0.8%.
Additionally, the 10-year US Treasury and the US dollar fell for the first time this week. The US Treasury yield rose to 0.94% and the US dollar fell almost 0.2% to 90.795, which continued to float at a 2-year low. The market continued to weigh the rescue negotiations and the progress of the vaccine. .
The United States Congress continues to negotiate a financial bailout bill, and Democrats and Republicans still have differences over the protection of corporate exemptions and the provisions on state and local government subsidies.
After Congressional Democrats rejected the simplified plan proposed by Senate Majority Leader Mitch McConnell, the Trump administration proposed a $ 916 billion rescue plan on Tuesday (8).
House Speaker Mancy Pelosi and Senate Minority Leader Chuck Schumer stated that McConnell signed the $ 916 billion plan, but bipartisan talks remain the best hope for the bailout progress. .
Additionally, the U.S. Congress will vote Wednesday on a week-long emergency appropriations bill to buy time for members of Congress to reach a bailout deal and a total spending bill to avoid the shutdown of the federal government.
For the epidemic, data from Johns Hopkins University showed that the number of newly diagnosed cases in the United States on Tuesday (8) again surpassed 200,000, reaching almost 216,000, and the number of new deaths rose to 2,546. The number of confirmed cases has exceeded 15 million.
However, after the implementation of a large-scale vaccination plan in the UK on Tuesday (8), Wall Street’s concerns about the worsening epidemic have been alleviated.
At 22 o’clock on Wednesday (9) Taipei time:
- The Dow Jones Index was up 125.09 points, or 0.41%, to 30,298.97 points temporarily.
- Nasdaq fell 17.64 points, or -0.14%, to 12,565.13 points temporarily
- The S&P 500 Index was up 6.35 points, or 0.17%, to 3,708.60 temporarily.
- Commissions and a half fell 22.43 points or 0.80%, temporarily to 2793.84 points
- TSMC ADR fell 0.12% to $ 105.51 per share
- Yield on 10-year US Treasuries increased to 0.938%
- New York light crude rose 0.83% to $ 45.98 a barrel
- Brent crude oil rose 0.88% to $ 49.27 a barrel
- Gold fell 0.68% to $ 1,862.10 an ounce
- The US dollar index fell 0.19% to 90.795 points
Focus actions:
Pfizer (PFE-US) rose 0.63% in early trading to $ 42.83.
After two employees had allergic reactions to the vaccine, considering safety concerns, the British National Health Service (NHS) recommended that people with a history of significant allergies should not use the new corona vaccine jointly developed by Pfizer and BioNTech.
FireEye (FEYE-US) fell 9.73% in early trading to $ 14.01.
FireEye, a large information security company, is suspected of having been targeted by a state-backed group of hackers. The company submitted a document to the U.S. Securities and Exchange Commission (SEC) stating that a set of hacker tools specifically used to test product protection were stolen, but there are none signal Visualization tool is used elsewhere and customer data has not been stolen.
GameStop (GME-US) fell 20.60% in early trading to $ 13.45.
GameStop, the world’s largest physical games seller, had revenue of approximately $ 1 billion in the third quarter on Tuesday (8), a 30% year-on-year decrease, which was lower than Refinitiv’s expectations. The net loss was reported at $ 18.8 million. With the popularity of the internet, game streaming services are altering the way gamers buy video games.
GameStop predicts that thanks to the momentum of holiday sales and the recently launched Microsoft Xbox and Sony PS5 game consoles, in addition to profitability in the fourth quarter, same-store sales will also grow positively again.
Daily key economic data:
- At 10:45 p.m. Taipei time, the final monthly growth rate of US wholesale inventories will be announced in October, which is expected to be 0.9%, and the previous value is 0.9% .
- At 23:00 Taipei time, the number of JOLTS vacancies in the United States in October will be released, which is expected to be 6.3 million, and the previous value was 6.436 million.
- At 11:30 p.m. Taipei time, the rise and fall of crude oil inventories from the EIA will be announced last week, the old value: 679,000
Wall Street Analysis:
Peter Cardillo, market economist at Spartan Capital Securities, said: “The market is still quite optimistic about reaching a small-scale stimulus package before the end of the year, which probably means that the economy will not face a second recession.”
Hugh Gimber, a strategist at JP Morgan Asset Management, said: “I think we are indeed moving towards closing the deal, and the market response highlights what we heard from the central bank that fiscal stimulus is the best way to support the economy”. , Monetary policy can only play a certain role. “
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