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Driven by expectations of much higher retail sales data in September, US stocks ended their three-day slide on Friday the 16th. The Dow Jones industrial average rose more than 150 points or 0.5%, and the Nasdaq and S&P 500 went up. 0.4%, the rate increased by 0.44%.
In individual stock news, Europe’s top aviation regulator said Boeing (BA-US) is expected to resume flights in Europe before the end of this year, encouraging Boeing to skyrocket more than 5% at the open.
In addition, Pfizer (PFE-US) BioNTech SE, a German biotechnology company, stated that it is expected to submit an Emergency Use Authorization Application (USA) to the United States Food and Drug Administration (FDA) after Get key data this month and the third week of next month. . Both rose almost 1.5% and 2.6% after the opening
In terms of economic data, US retail sales increased for the fifth consecutive month in September and grew at the fastest rate in three months. Driven by sales of automobiles and clothing, the monthly growth rate of retail sales in September reached 1.9%, much better than Market expectations and previous values show that the recovery in consumption is still continuing.
However, another data is not so optimistic: US industrial production ended its continuous rise in September, with a monthly decline of 0.6%, among which, the production of public services was the one that fell the most to -5 , 6%. Production also fell 9%.
At 9 p.m. on Friday (4 p.m.) Taipei time:
- The Dow Jones index rose 157 points or 0.50%, temporarily reporting 28655.23 points.
- Nasdaq was up 47.40 points or 0.40% to 11,761.27 points temporarily
- The S&P 500 Index rose 13.96 points, or 0.40%, temporarily to 3,497.30
- Rates rose 10.52 points and 0.44%, temporarily reporting 2421.65 points
- TSMC ADR fell 0.08% to US $ 88.08 per share
- Yield on 10-year US Treasuries increased to 0.741%
- New York light crude oil fell 1.22% to $ 40.46 a barrel
- Crude oil Brent fell 1.34% to 42.58 dollars a barrel
- Gold rose 0.10% to $ 1,910.80 an ounce
- The US dollar index fell 0.18% to 93.69 points.
Focus actions:
Pfizer (PFE-US) rose 1.42% to $ 37.07 in early trading; BioNTech SE (BNTX-US) was up 2.63% to $ 92.76.
Pfizer said on Friday (16) that it expects to apply for an emergency use authorization (US) from the United States Food and Drug Administration (FDA) for possible vaccines by the end of November. The vaccine was developed jointly by Pfizer and the German biotechnology company BioNTech.
Pfizer said that based on the current drug administration and testing schedule, it expects to obtain relevant data on the vaccine’s effectiveness this month, and then obtain drug safety data in the third week of November, and prepare to present it to authorities to guarantee the quality and quantity of the medicine. Data related to production capacity.
Boeing (BA-US) rose 5.07% to $ 172.56 in early trading.
The European Union Aviation Safety Agency (EASA) stated that Boeing has met safety requirements after making improvements to the 737 Max. It is expected to restart European travel later this year, but it still takes two years to prepare. EASA CEO Patrick Ky said the final document review is in progress and the results of the airworthiness review are expected to be released next month.
Ford Motor (F-US) was up 0.66% in early trading to $ 7.62.
Ford announced third-quarter sales results in China on Thursday (15). The report showed that the Chinese market car sales reached 164,352 units, a quarter-on-quarter increase of 3.6% and an annual increase of 25.4%, the largest increase in the past four years.
Daily key economic data:
- US retail sales in September posted an annual growth rate of 5.4%, down from 2.6%
- The monthly growth rate of retail sales in the United States in September reported 1.9%, which is expected to be 0.7% and 0.6% earlier.
- The monthly growth rate of US industrial production in September reported-0.6, which is expected to be 0.6%, and the above value is 0.4%
- At 22:00 Taipei time, the initial value of US consumer confidence in October will be announced, which is expected to be 80.0 and the previous value 80.4
Wall Street Analysis:
George Gero, CEO of RBC Wealth Management, said that in light of the continuing global epidemic, concerns about tightening lockdown measures have left investors on the sidelines. Some investors have been on the sidelines due to the reopening of the European epidemic, the progress of the vaccine and the withdrawal of the UK. Europe and other problems, choose to switch to cash.
Jane Foley, head of currency strategy at Rabobank, said: “The retail sales data for September is really strong, but in a sense this may be the last time the data has been strong.” She believes that considering the weakness of the labor market In addition to the negotiating barrier of aid plans, consumer spending in the coming months may decrease.
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