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On Wednesday (2), a new round of optimism about the stimulus bill, Pfizer Lidow vaccine news, promoted value stocks, crude oil rallied to boost energy stocks, but small data did not Poor farms suppressed earnings, the S&P index and rates and a half twice in a row. An all-time high was recorded on a trading day, and TSMC’s ADR has fallen from yesterday’s all-time high of $ 100.
The Speaker of the House of Representatives, Pelosi, and the Democratic leader of the Senate, Schumer, asked Congress to negotiate immediately and demanded that the $ 908 billion bailout proposal be the basis for negotiations.
Fed Chairman Bauer said Wednesday that the Fed is not eager to cut back on its bond buying plan. He and Treasury Secretary May Nuchin have no disagreement on the rescue plan. He stressed that the US Congress will adopt more economic stimulus measures. The FOMC is expected to meet this month to provide Guidance for new asset purchase plans.
The Fed released the latest “Beige Book” report. The new corona epidemic continues to exert pressure, which has severely affected American business families. Four of the Fed’s 12 branch areas have seen little economic growth in recent weeks.
The global epidemic of new corona pneumonia (COVID-19) continues to have a fever. According to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has skyrocketed to exceed 64.29 million and the number of deaths exceeds 1.48 million. The United States has accumulated More than 13.86 million cases were diagnosed and the accumulated number of deaths exceeded 272,000.
The UK precedes the US and the European Union, becoming the first country to approve Pfizer’s new corona vaccine, and it will be available across the UK starting next week.
The performance of the four major US stock indices on Wednesday (2nd):
- The Dow Jones index rose 59.87 points, or 0.20%, to close at 29,883.79 points.
- The S&P 500 Index rose 7.28 points, or 0.20%, to close at 3,669.73 points.
- The Nasdaq index fell 5.74 points, or 0.05%, to close at 12,349.37 points.
- The Philadelphia Semiconductor Index rose 6.63 points, or 0.24%, to close at 2,716.36 points.
Focus actions
The five kings of science and technology performed best with Alphabet. Apple (AAPL-US) rose 0.29%; Facebook (FB-US) rose 0.34%; Alphabet (GOOGL-US) was up 1.65%; Amazon (AMZN-US) fell 0.51%; Microsoft (MSFT-US) fell 0.39%.
All 30 Dow Jones stocks were mixed. The sales force (CRM-US) fell 8.52%; Boeing fell (BA-US) rose 5.09%; Disney (DIS-US) was up 2.79%; Chevron (CVX-US) rose 2.77%; Walgreens and Boots (WBA-US) rose 3.59%; McDonald’s (MCD-US) fell 2.44%.
Fei’s semicomponent stocks continued to rise. AMD (AMD-US) was up 1.20%; Intel (INTC-US) rose 0.69%; NVIDIA (NVDA-US) was up 1.15%; Qualcomm (QCOM-US) fell 0.42%; Micron (MU-US) was up 3.03%.
The ADR technical sale of Taiwan shares was published. TSMC ADR (TSM-US) fell 1.31%; ASE ADR (ASX-US) remained stable; UMC ADR (UMC-US) fell 1.89%; Chunghwa Telecom ADR (CHT-US) fell 0.13%.
Stock Market News
Tesla (TSLA-US) fell 2.73%. Michael Burry, the protagonist of the film’s short sale, posted a Tesla short sale. Tesla CEO Musk also personally anticipated the short sale, warning that Tesla’s stock price could collapse.
Salesforce (CRM-US) announced Tuesday that it would acquire Slack (WORK-US) for $ 27.7 billion. The acquisition price valued Slack more than 24 times its expected revenue next year. Slack fell 2.56% and Salesforce fell 8.52%.
US data analytics unicorn Palantir (PLTR-US) fell 12.31% and JPMorgan Chase downgraded the company to “underweight.”
The Federal Aviation Administration (FAA) issued the first certificate of airworthiness for the Boeing 737 MAX on Monday, and the flying ban is about to be lifted, with Boeing up 5.09%.
Economic data
- In the United States, ADP’s small nonfarm farmers reported 307,000 in November, with an expectation of 500,000. The previous value rose from 365,000 to 404,000.
Wall Street Analysis
The Fed’s third-place finisher and New York Fed Branch Chairman John Williams said economic growth is slowing due to the growing number of new diagnoses and the lack of more fiscal stimulus measures.
Baird’s investment strategy analyst Ross Mayfield said the nonfarm employment report to be released on Friday, if there are potential signs of a deterioration in the labor market, may put more pressure on Congress and make the two parties reach an agreement on the economic stimulus bill as soon as possible.
Ross Mayfield said that Congress and investors pay close attention to this data, if the data can push the two sides to the negotiating table, it can become one of the reports that turns bad news into good news.
Chris Rupkey, chief economist at MUFG New York, mentioned that the rapid spread of the new corona virus across the country has made it difficult for Americans to find work this fall. If Congress cannot discuss and vote on the new stimulus bill before the end of the meeting, this will put the entire economy at risk.
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