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On Monday (5) the condition of the president of the United States, Trump, improved, along with the possibility that a new round of stimulus laws will be passed largely, American stocks rose in early trading, bond yields Americans soared and the US dollar weakened.
At the end of the negotiating session, Trump confirmed that he was about to be discharged from the hospital. This news helped the US stock market soar. UMC and TSMC ADR rose more than 4%. The four main indices regained their ground last Friday. The Dow Jones rose more than 400 points and rates went up more than half. 3%.
Trump tweeted Monday night announcing that he is in good health and will be released from the hospital. It will depart the “Walter Reed National Army” at 6:30 pm ET on Monday (5) (Tuesday 6:30 am Taipei time). “Medical center”, only three days from admission to discharge.
White House physician Sean Conley said that in the past 24 hours, Trump’s condition has continued to improve, but cautioned that while Trump meets discharge standards, he has yet to make a full recovery. The White House medical team is cautiously optimistic.
As for the financial relief measures, House Speaker Pelosi held a conference call with Finance Minister Mnuchin on Monday. The two sides have yet to reach a consensus. They both hope to speak again on Tuesday.
The global epidemic of new corona pneumonia (COVID-19) continues to spread. Before the deadline, according to real-time statistics from Johns Hopkins University in the United States, the number of confirmed cases worldwide has exceeded 35.2 million and the number of deaths has exceeded 1.03 million . The United States has confirmed more than 7.41 million cases and the cumulative number of deaths has exceeded 209,000.
Mike Ryan, Executive Director of Emergency Planning at the World Health Organization, said that a tenth of the world’s population may be infected with a new coronary pneumonia, which is about 20 times the current number of confirmed cases.
Monday (5) the performance of the four main US stock indices:
- The Dow Jones index rose 465.83 points, or 1.68%, to close at 28,148.64 points.
- The S&P 500 Index rose 60.18 points, or 1.80%, to close at 3,408.62 points.
- The Nasdaq index rose 257.47 points, or 2.32%, to close at 11,332.49 points.
- The Philadelphia Semiconductor Index rose 74.44 points, or 3.35%, to close at 2,295.56 points.
The five great tech giants emerged together. Apple (AAPL-US) rose 3.08%; Microsoft (MSFT-US) was up 2.03%; Amazon (AMZN-US) rose 2.37%; Alphabet (GOOGL-US) was up 1.87%; Facebook (FB-US) rose 1.81%.
All constituent shares of Dow Jones received dividends. Amgen (AMGN-US) was up 4.32%; Dow Chemical (DOW-US) was up 2.68%; Traveler (TRV-US) rose 3.07%; Chevron (CVX-US) rose 2.12%; Caterpillar (CAT-US) was up 2.37%.
Fei’s semi-component shares collectively increased. AMD (AMD-US) was up 5.32%; Micron (MU-US) was up 2.26%; Intel (INTC-US) rose 1.33%; NVIDIA (NVDA-US) was up 4.44%; Qualcomm (QCOM-US) was up 4.37%; Applicable materials (AMAT-US) increased 4.11%.
The ADR for Taiwan stocks closed higher simultaneously. UMC ADR (UMC-US) was up 4.78%; TSMC ADR (TSM-US) was up 4.63%; ASE ADR (ASX-US) was up 2.73%; Chunghwa Telecom ADR (CHT-US) was up 1.24%.
Featured Stock News
Trump adopted the experimental “antibody cocktail therapy” treatment from the biological company Regeneron, and investment bank Cantor Fitzgerald gave an update. Regeneron (REGN-US) continued to rise 7.13% on Monday.
Bank of America raised McDonald’s price target to $ 250 on Wall Street. Financial expert Jim Cramer also praised McDonald’s as a very high-quality company. McDonald’s (MCD-US) was up 1.53% on Monday.
Investment bank Oppenheimer’s research report indicated that Starbucks’ attractive profitability led Starbucks (SBUX-US) to rise 2.19%.
Economic data
- September US Markit Service Industry PMI Reported 54.6, Expected 54.6, Previous Value 54.6
- US ISM Non-Manufacturing PMI reported 57.8, expected 56.3, previous value 56.9
Wall Street Analysis
The latest poll released by Reuters / Ipsos shows that Biden’s leadership has expanded, with 51% of respondents supporting Biden and 41% of respondents supporting Trump.
Ajay Rajadhyaksha, Head of Macro Research at Barclays, believes that since Biden leads the way in most polls, this appears to reduce the possibility of long-term uncertainty after November 3. The market thinks Biden is more likely to win. The possibility of controversial results is even less.
Boris Schlossberg, managing director of BK Asset Management, said Monday’s US stock market trend is an implicit bet that “there will be large-scale fiscal stimulus spending.”
Boris Schlossberg mentioned that, given the poll results, whether Biden can win isn’t even a problem, but what the market really needs is Biden’s overwhelming victory, which is necessary for real fiscal spending and continued market growth. .
According to Tom Hainlin, national investment strategist at Ascent Private Wealth Group, Bank of America’s wealth management company, the United States is in a moderately recovering economy without a vaccine breakthrough, but it can only go so far.
Tom Hainlin said industries vulnerable to the epidemic are still struggling, which is why we need so much economic stimulus from the Federal Reserve and Congress.
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