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On Tuesday (20) the deadline for negotiations on the new stimulus bill approached, Wall Street turned to expectation, energy and financial stocks led the rise, tech stocks were unaffected by the antitrust storm Google and the three major US stock indexes closed in the red at half cost. It fell slightly, creating a downtrend for six consecutive business days.
Pelosi of the US House of Representatives continued to negotiate with the White House a new stimulus bill of approximately $ 2 trillion. Pelosi was optimistic about hitting a stimulus package on Tuesday, but downplayed the Tuesday deadline.
He said: “It is not that today is the day that an agreement is reached, but the day that we put the conditions on the negotiating table so that we can enter the next stage.”
White House Chief of Staff Mark Meadows said in the hours afterward that the Trump administration and the Democratic Party have made progress in the negotiations, but have yet to overcome important differences to reach an agreement before the 2020 US elections. .
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 40.6 million and the number of deaths has exceeded 1.12 million . The cumulative number of confirmed cases in the United States exceeds 8.2 million and the cumulative number of deaths exceeds 220,000.
Tuesday (20) the performance of the four main US stock indices:
- The Dow Jones Index rose 113.37 points, or 0.40%, to close at 28,308.79 points.
- The S&P 500 Index rose 16.20 points, or 0.47%, to close at 3,443.12 points.
- The Nasdaq index rose 37.51 points, or 0.33%, to close at 11,516.49 points.
- The Philadelphia Semiconductor Index fell 0.03 points, or 0.02%, to close at 2,385.82 points.
Five big tech giants collectively received red. Apple (AAPL-US) rose 1.32%; Microsoft (MSFT-US) was up 0.20%; Amazon (AMZN-US) rose 0.31%; Alphabet (GOOGL-US) was up 1.38%; Facebook (FB-US) rose 2.36%.
IBM became the biggest drag on the Dow Jones index. IBM (IBM-US) fell 6.54%; Traveler (TRV-US) rose 5.61%; Walgreens and Boots (WBA-US) rose 1.41%; Coca-Cola (KO-US) rose 1.27%; Goldman Sachs (GS-US) was up 1.14%.
Fei’s half-component shares received more blacks. Xilinx (XLNX-US) fell 1.42%; AMD (AMD-US) fell 0.54%; Intel (INTC-US) fell 2.11%; Micron (MU-US) was up 1.71%; NVIDIA (NVDA-US) was up 1.09%; Qualcomm (QCOM-US) fell 0.09%; if the material (AMAT-US) rose 0.34%.
Taiwan ADR shares were up across the board. UMC ADR (UMC-US) was up 2.37%; TSMC ADR (TSM-US) was up 0.75%; ASE ADR (ASX-US) rose 1.42%; Chunghwa Telecom ADR (CHT-US) was up 0.24%.
Featured Stock News
The US Department of Justice officially filed an antitrust lawsuit against Google, accusing it of stifling competition and harming consumers. This is the biggest lawsuit since Microsoft was engulfed in the antitrust storm in the 1990s. Shares of parent company Alphabet rose 1.38% on Tuesday.
Goldman Sachs was involved in the 1MDB scandal and made nearly $ 600 million in profit through the 1MDB subscription. News on Tuesday noted that Goldman Sachs reached a liquidation agreement with the US Department of Justice Shares of Goldman Sachs (GS-US) rose 1.14% on Tuesday.
Intel (INTC-US) agreed to sell its NAND memory chip business to South Korea’s SK Hynix for a $ 9 billion cash transaction. Intel’s share price fell 2.11% on Tuesday.
Blue giant IBM (IBM-US) announced its latest post-market financial report on Monday. The new corona epidemic spurred demand for cloud services. IBM’s cloud department revenue posted double-digit growth, but total revenue declined for three consecutive quarters and did not provide financial estimates for the fourth quarter. , IBM slumped 6.54% on Tuesday.
Logitech (LOGI-US), a consumer electronics peripherals company, performed well in its latest financial report. Its quarterly sales increased 75% annually. This is the first time that its quarterly sales have exceeded US $ 1 billion. Its annual revenue in fiscal 2021 is expected to increase by 35-40 in the future. %, encouraging its share price to rise 15.80%.
Economic data
- The number of building permits in the United States in September reported 1.55 million, it is expected to be 1.52 million and the previous value of 1.47 million.
- The monthly growth rate of US building permits in September reported 5.2%, expected 3.0%, previous value-0.9%
- The number of new homes started in the United States in September reported 1.42 million, which is expected to be 1.452 million, and the previous value was 1.416 million.
- The monthly growth rate of new homes started in the United States in September reported 1.9%, expected 2.5%, previous value-5.1%
Wall Street Analysis
The third quarter earnings report performed well. According to data from Refinitiv IBES, 86.4% of the 66 S&P 500 companies that reported earnings have exceeded earnings expectations.
Andrew Smith, chief investment strategist at Delos Capital Advisors, said that failing to reach a stimulus deal this week will not return the economy to recession, but will make recovery more difficult.
JPMorgan Chase analyst John Normand said: “Market behavior reflects optimism that major new stimulus will be introduced in January. I think May Mnuchin and McConnell will not necessarily hit Pelosi’s trading deadline.” Any substantive agreement. “
Aptus Capital Advisors Portfolio Manager David Wagner said: “Today, economic stimulus measures are the most important thing in the market. Investors simply see that as stimulus negotiations progress, the market fluctuates daily. “.
David Wagner said: “Americans now need new stimulus measures. Now they are suffering from economic problems.”
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