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Major US stock indices On Thursday (24), the Dow Jones Industrial Average fell more than 200 points or 0.8%, the S&P 500 index also fell 0.8% and the Nasdaq and Fiscal fell 0.6 % and 0.2% respectively. Among them, the S&P 500 Index has fallen about 10% from its all-time high on Sept. 2, nearly matching gains for the year.
A stronger US dollar continued to weaken gold buying. On Thursday (24), the price of gold continued under pressure in the first operations and was at a low of almost 2 months.
In terms of economic data, the Bureau of Statistics of the United States Department of Labor (BIS) previously announced the report on initial unemployment benefits last week. As of the week of September 19, initial US unemployment benefits were reported at 870,000, which was higher than expected and prior values. Above the 800,000 level in 4 weeks, the recovery in employment appears to have stalled.
Market sentiment continued to be affected by the rescue plan dystocia. Since the bipartisan negotiations were at a standstill, the president of the Federal Reserve of the United States, Jerome Powell, reiterated in his testimony before Congress on Wednesday (23) that the Fed will continue to use tools to support it. Economy, also called on Congress to take more fiscal measures to jointly help the US economy recover faster.
Big tech stocks Apple (AAPL-US), Amazon (Amzn-US), Facebook (FB-US) Alphabet (GOOGL-US), which led earnings since April, still showed a downward trend at open, and the first two fell more than 1%. , The latter fell 0.4%.
At 21 o’clock on Thursday (24) Taipei time:
- The Dow Jones index fell 219.31 points or -0.82%, temporarily reporting 26543.82 points.
- Nasdaq fell 88.75 points, or 0.83%, to 10 544.23 points temporarily.
- The S&P 500 fell 17.68 points, or -0.55%, to 3.19.64 points temporarily.
- Commissions and media fell 4.20 points-0.20%, temporarily to 2,122.49 points
- TSMC ADR fell 1.18% to $ 77.00 per share
- Yield on 10-year US Treasuries fell to 0.668%
- New York light crude oil rose 0.08% to $ 39.96 a barrel
- Brent crude fell 0.07% to $ 41.74 a barrel
- Gold fell 0.39% to $ 1,618.10 an ounce
- The US dollar index rose 0.11% to 94.545 points.
Focus actions:
United Health (UNH-US) fell 0.54% to $ 290.56 in early trading.
According to sources, UnitedHealth Group Inc. is in advanced negotiations to acquire DivvyDose, a new online pharmacy, according to people familiar with the matter, the purchase price is approximately US $ 300 million. Currently, neither party has responded to requests for comment.
EW Scripps (SSP-US) was up 40.88% in early trading to $ 14.75.
“The Wall Street Journal” reported that broadcaster EW Scripps will acquire ION Media, a peer company, for $ 2.65 billion with funds from “stock god” Buffett.
EW Scripps issued a statement indicating that Berkshire plans to make a $ 600 million preferred equity investment in the company to help acquire broadcaster ION Media. In addition, Berkshire will also obtain warrants to Buy up to 23.1 million shares of Scripps Class A at a price of $ 13 per share.
BlackBerry (BB-US) was up 9.79% to $ 5.27 in early trading.
The second quarter of fiscal 2021 is based on key non-GAAP earnings data:
- Revenue reported 266 million US dollars, an annual increase of 1.9%
- Reported gross profit margin 77.8%, 74.7% in the same period last year
- Operating profit was reported at US $ 63 million, compared to US $ 2 million in the same period last year.
- Diluted EPS was recorded at $ 011, compared to $ 0 in the same period last year.
Daily key economic data:
- The United States last week (9/19) reported 870,000 unemployment benefits for the first time, with an expectation of 850,000. The previous value rose from 860,000 to 866,000.
- The United States reported last week (9/12) 12,258 million renewed unemployment benefits, which is expected to be 12,275 million. The previous value rose from 12,628 million to 12,747 million
- At 10:00 p.m. Taipei time, the annualized total number of new home sales in the United States for August will be announced, which is expected to be 880,000 and the previous value was 901,000.
- At 10:00 p.m. Taipei time, the annualized monthly growth rate of new home sales in the United States will be announced in August, which is expected to be -2.3%, and the old value is 13.9%
- The Kansas Fed Manufacturing Index for September will be announced at 11 p.m. Taipei time, the previous value was 14.0
Wall Street Analysis:
Peter Chatwell, head of multi-asset strategy at Mizuho International in London, said in the report: “We expect a variety of core risk factors to emerge at the same time in October, driving market behavior towards risk aversion.”
He believes that the economic recovery in the United States will continue to be impacted by regional lockdowns, and the possibility of the victory of Democratic presidential candidate Joe Biden will have a significant negative impact on the equity and credit markets, and risks to the future of the United States. In terms of assets, this is an unfavorable path.
Evercore ISI analysts Krishna Guha and Ernie Tedeschi said that in light of monetary policy limitations to respond to the impact of the epidemic, the Fed hopes to put pressure on Congress to expand support for fiscal policy. However, due to the death of Judge Ruth Bader Ginsburg, the bailout plan may not be released anytime soon, stifling market confidence.
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