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On Monday (2), the eve of the US elections, US Treasuries, gold and the US dollar rose. Despite the failure of big tech stocks, US stocks rebounded from last week’s selling tide and the Dow Jones closed more than 400 points.
The global epidemic of new corona pneumonia (COVID-19) continues to have a fever. Before the deadline, according to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 46.6 million and the number of deaths has exceeded 1.2 million . The cumulative number of confirmed cases in the United States exceeds 9.2 million and the cumulative number of deaths exceeds 231,000.
American public health expert Anthony Fauci said that the American epidemic situation in the cold winter is very bad. His comments infuriated Trump, who said bluntly that he would be fired after the election.
European countries once again issued city closure orders to curb the worsening epidemic, including Britain, France, Germany, Ireland, Austria and Belgium, all returning to the era of blockade. The Director General of the World Health Organization (WHO), Tan Desai, claimed that he had been in contact with the new corona diagnosis and that he is currently being quarantined, emphasizing that he did not have any symptoms.
Monday (2) the performance of the four main US stock indices:
- The Dow Jones index rose 423.45 points, or 1.60%, to close at 26,925.05 points.
- The S&P 500 index rose 39.80 points, or 1.22%, to close at 3,309.76 points.
- The Nasdaq index rose 46.02 points, or 0.42%, to close at 10,957.61 points.
- The Philadelphia Semiconductor Index rose 13.92 points, or 0.62%, to close at 2,260.07 points.
Only Alphabet shut down the top five tech giants. IBM (IBM-US); Apple (AAPL-US) fell 0.083%; Microsoft (MSFT-US) fell 0.069%; Amazon (AMZN-US) fell 1.04%; Alphabet (GOOGL-US) was up 0.51%; Facebook (FB-US) fell 0.67%.
Almost all of the Dow Jones constituent shares were up. Hanwei United (HON-US) was up 5.25%, Walgreens and Boots (WBA-US) was up 5.14%, Dow Chemical (DOW-US) was up 5.12%, Development Heavy Industries (CAT-US) ) rose 3.96%; Chevron (CVX-US) rose 3.81%; Boeing (BA-US) was up 2.92%.
Fei’s semicomponent stocks were mixed. AMD (AMD-US) fell 0.78%; Intel (INTC-US) rose 0.41%; Micron (MU-US) fell 1.25%; NVIDIA (NVDA-US) was up 0.37%; Qualcomm (QCOM-US) was up 0.49%.
Taiwan stock ADR only closed UMC. UMC ADR (UMC-US) fell 1.51%; TSMC ADR (TSM-US) rose 2.23%; ASE ADR (ASX-US) rose 1.31%; Chunghwa Telecom ADR (CHT-US) was up 1.24%.
Featured Stock News
Apple (AAPL-US) fell 0.083%. The company officially sent an invitation letter on Monday. The third fall special conference is scheduled to debut at 2:00 a.m. From November 11, Taiwan time. The outside world believes that the protagonist is the party of the world. The new Mac from its own Apple Silicon chip.
Under Armor (UAA-US) was up 4.48%. Investment bank Stifel raised its share price to “Buy” and raised its target price from $ 11 to $ 17 per share.
Norwegian Cruise Line (NCLH-US) fell 2.71%. Norwegian Cruise Line announced Monday that the suspension of its three cruise brands will run through the end of 2020.
Economic data
- Markit US October Manufacturing PMI reported 53.4, forecast 53.3, previous value 53.3
- October US ISM Manufacturing PMI reported 59.3, expected 55.6, previous value 55.4
- The monthly growth rate of US construction spending in October is expected to be 1.0%, and the above value is 1.4%
Wall Street Analysis
Ed Yardeni, president and chief investment strategist at Yardeni Research, a leading Wall Street investment consulting firm, said the painful sell-off is gone. Elections don’t seem to solve all problems, but they can solve one big factor: uncertainty.
Ed Yardeni mentioned that Tuesday’s general election results will be finalized in a few days, setting the stage for a big rally at the end of the year. The S&P 500 is speculated to hit 3,500 points, down 2.5% from the all-time high of September 2.
Simon Ballard, chief economist at First Abu Dhabi Bank Pjsc, said: “The market may look very different on Wednesday morning. It is a blue wave. If it happens, it should inspire investors to buy with fans of the stimulus, or a division. The government reminds people that there will be a long winter ahead, so this is a very important week. “
Jim Cramer, a well-known financial presenter, said the reason for the Dow Jones and S&P rise on Monday may be that concerns about the postponement or controversy of the election result have eased, and it actually oversold last week.
Adam Crisafulli, founder of Vital Knowledge, said that while investors wait for the US general election to clear up, the world remains basically on the sidelines. This is because, after the elections, negotiations for new stimulus measures were resumed and the Federal Reserve (Fed) further supports the In just a few days, the future prospects will become clear.
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