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On Friday (6), the result of the next US president is still undecided, the electoral turnover of the US adds another variable, the US single-day diagnostics set a record and the data did not Farms are better than expected, helping to stem Friday’s slide. All three major indices closed almost unchanged, Dow Jones fell more than 60 points, chip stocks rose strongly and Fee Ban closed more than 1.6% higher.
The turnout rate in the 2020 US presidential election was the highest since 1900. Before the deadline, 73,979,608 Americans voted for Democratic presidential candidate Biden and 69,876,618 Americans voted for Trump. Democratic candidate Biden currently leads Trump with 253-213 votes.
Biden also leads Trump in the two key states “Pennsylvania” and “Georgia” that have yet to have a vote result. However, since the vote gap is less than 0.5%, Georgia announced that it will recount the votes, adding to the US elections. variable.
Despite the uncertainty, Wall Street has its best weekly performance since April. The S&P and the Nasdaq gained 7.3% and 9% respectively this week. Dow Jones was up 6.9% for the week. Standard & Poor’s posted the biggest weekly election gain since 1932.
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 49.11 million and the number of deaths has exceeded 1.23 million .
The United States reported 121,888 new cases Thursday, nearly 20,000 more than Wednesday’s record, with more than 9.66 million confirmed cases and more than 235,000 deaths.
The performance of the four major US stock indices on Friday (6th):
- The US Dow Jones stock index fell 66.78 points, or 0.24%, to close at 28,323.40 points.
- The S&P 500 Index fell 1.01 points, or 0.03%, to close at 3,509.44 points.
- The Nasdaq index rose 4.30 points, or 0.04%, to close at 11,895.23 points.
- The Philadelphia Semiconductor Index rose 40.11 points, or 1.61%, to close at 2,529.27 points.
The five kings of science and technology received the most casualties. Apple (AAPL-US) fell 0.11%; Facebook (FB-US) fell 0.43%; Alphabet (GOOGL-US) fell 0.16%; Amazon (AMZN-US) fell 0.32%; Microsoft (MSFT-US) was up 0.19%.
All 30 Dow Jones stocks were mixed. United Health (UNH-US) fell 1.96%; Johnson & Johnson (JNJ-US) was up 1.78%; Walmart (WMTUS) was up 1.60%; Dow Chemical (DOW-US) fell 1.51%; American Express (AXP-US) fell 1.45%.
Fei’s semi-constituent shares rose for days. AMD (AMD-US) was up 3.47%; Intel (INTC-US) fell 0.63%; MRVL-US was up 8.80%; Qualcomm (QCOM-US) fell 0.28%; Micron (MU-US) was up 1.06%.
The ADR for Taiwan stocks was mixed. TSMC ADR (TSM-US) was up 1.07%; ASE ADR (ASX-US) fell 0.82%; UMC ADR (UMC-US) fell 1.11%; Chunghwa Telecom ADR (CHT-US) was stable.
Featured Stock News
Uber (UBER-US) was up 7.22%. The company’s latest financial statement is currently in bright spot, with a loss of 62 cents a share, which is better than Wall Street expectations. Uber CEO Dara Khosrowshahi said Uber’s ride-sharing business is on the mend.
T-Mobile (TMUS-US) rose 5.37% The company’s latest financial report was better than expected, mainly due to an unexpected increase in the number of postpaid phone subscribers.
Streaming media platform Roku (ROK-US) increased 12.57%. The company’s latest financial report performed well, with a net profit of 9 cents a share and revenue of $ 452 million. Both were better than Wall Street’s expected loss of 40 cents a share and revenue of $ 366 million.
Economic data
- The United States reported 638,000 new non-farm jobs in October, which is expected to be 610,000 and the previous value was 661,000
- The US unemployment rate registered 6.9% in October, it is expected to be 7.7% and the previous value was 7.9%.
- The average weekly working hours in the United States in October is 34.8 hours, which is expected to be 34.7 hours, and the previous value is 34.7 hours.
- The average hourly wage increase rate in October in the United States reported 4.5%, which is expected to be 4.6%, and the previous value is 4.7%
- The average rate of hourly wage increase in October in the United States reported 0.1%, which is expected to be 0.2%, and the above value is 0.1%
- The US labor participation rate reported 61.7% in October, down from 61.4% previously.
Wall Street Analysis
Tony Bedikian, Citizens’ director of global marketing, said the new employment report shows that the U.S. economy is recovering rapidly from factories that closed due to the epidemic earlier in the year, and the unemployment rate has fallen by below 7%.
Bedikian added that despite strong signs that many Americans are returning to work, the number of confirmed cases is increasing, which may mean new restrictions on daily life, which may further accelerate the transition to a more digital economy. and increase. The government’s call for additional stimulus.
Sylvia Jablonski, CEO of Direxion, said that this week, the market seems to have responded quite well. Our current situation seems to think that we will have a divided Congress, which will mean that the regulatory issues of the big technology companies that may not be low will increase the tax on corporate income. The question can be set aside.
Sylvia Jablonski also mentioned that there may be fiscal stimulus measures. Regardless of whether the amount is less than we expected, it can still come.
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