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US President Trump signed the spending bill before the federal government closed Tuesday. US stocks opened higher on Monday (28). The Dow Jones industrial average rose more than 150 points or 0.6%, the Nasdaq index rose 0.9% and the S&P 500 index rose 0.7%, the three major indices hit a record again, and the rate also rose 1, 2%.
Foreign media reported that Trump accidentally signed a $ 2.3 trillion spending bill on Sunday night (27), which includes a $ 900 billion bailout plan to continue providing relief funds for businesses and companies. national individuals, avoiding the shutdown of the federal government. .
Under the plan finalized by the United States Congress, the rescue plan includes distributing US $ 600 in cash to each person, US $ 300 in cash to the unemployed each week, and other subsidies to national businesses, schools, etc.
As wage assistance is expected to bring relief to industries that have been hit hard by the epidemic, aviation stocks generally opened higher on Monday. American Airlines (AAL-US) and United Airlines (UAL-US) increased 3.3% and 1.9%, respectively. Southwest Airlines (LUV-US) was up 1.6% and Delta Air Lines (DAL-US) was up 1.4%.
The United Kingdom and the European Union reached a historic Brexit trade deal last Thursday (24), which helped stimulate risk appetite. The large-scale vaccination campaign launched in Europe last weekend also added optimism to the market.
The bid for the vaccine-driven economic recovery, coupled with dual fiscal and monetary stimulus from various countries, is expected to see the S&P 500 index rise by about 15% this year. Benefiting from the epidemic’s demand, Apple (AAPL-US) and Amazon (AMZN-US), etc. Tech giants become the main driving force.
On the news of the epidemic, American epidemic prevention expert Anthony Fauci warned Sunday that after the Christmas and New Year holidays, new confirmed cases could emerge. The new corona vaccine from Pfizer and Moderna was distributed in the United States this month. So far, more than 1 million people in the United States have been vaccinated.
Starting Monday (28) 22:00, Taipei time:
- The Dow Jones Index rose 169.83 points, or 0.56%, to 30,269.70 points temporarily.
- Nasdaq rose 109.14 points, or 0.85%, to 12,913.88 points temporarily
- The S&P 500 Index was up 26.04 points or 0.70% to 3729.10 points temporarily
- Commissions and media rose 32.01 points, or 1.16%, temporarily to 2,782.25 points
- TSMC ADR rises 1.31% to US $ 107.36 per share
- Yield on 10-year US Treasuries increased to 0.950%
- New York light crude fell 0.27% to $ 48.10 a barrel
- Brent crude fell 0.08% to $ 51.25 a barrel
- Gold rose 0.59% to $ 1,894.30 an ounce
- The US dollar index fell 0.12% to 90.14 points
Focus actions:
Alibaba (BABA-US) fell 1.43% in early trading to US $ 218.83.
Alibaba’s share price plummeted by more than 10% last week following an antitrust investigation by the Chinese government. With the approval of the board of directors, Alibaba raised the scale of repurchase of shares in treasury from US $ 6 billion to US $ 10 billion on Monday (28). The implementation period is 2 years until the end of 2022. However, this has not yet facilitated market antitrust investigations. Worries
AstraZeneca (AZN-US) was up 3.36% in early trading to $ 50.15.
The British “Financial Times” quoted government officials as reporting that British regulatory authorities are about to approve the new corona vaccine developed by AstraZeneca and the University of Oxford, to be announced on Tuesday (29).
According to government data, if the AstraZeneca vaccine is approved in the coming days, it will launch next week. Richard Horton, editor-in-chief of the well-known medical journal “The Lancet” (The Lancet), once said that the global use of AstraZeneca’s new corona vaccine may outperform other vaccines.
Tesla (TSLA-US) rose 2.3% in early trading to $ 677.
Nitin Gadkari, India’s Minister of Traffic and Road Transport, confirmed on Monday (28) that Tesla will enter the Indian market from early 2021, with sales as the first priority and considering assembly and manufacturing operations based on market demand.
Tesla CEO Elon Musk tweeted in October that he would enter the Indian market in 2021, and Musk was pretty adamant at the time.
Daily key economic data:
- The Dallas Fed Manufacturing Activity Index will be released at 11:30 p.m. Taipei time. The expected value is 10.2 and the old value is 12.0.
Wall Street Analysis:
Hani Redha, the multi-asset portfolio manager at PineBridge Investments, said: “Overnight, we unexpectedly received a stimulus package. From an economic point of view, this provided us with significant support during the difficult winter.” .
Dennis DeBusschere, Head of Portfolio Strategy at Evercore ISI, released a report saying: “The scale of the new invoice is large enough to have a significant impact on people. The noise caused by disappointing cash checks should be ignored. and the focus must be on achieving a strong economy in 2021. ” Recovery, especially in preparation for the service industry. “
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