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After US President Trump asked Congress to pass an aid package as soon as possible to help boost the aviation industry and other small and medium-sized businesses, US stocks rose across the board on Wednesday ( 7). The Dow Jones Industrial Average rose 320 points or 1.16% and the Nasdaq Index rose. 1.18%, half the rate rose 1.8%, the S&P 500 index rose 1.13%.
On Tuesday (6), Trump suddenly called for the ongoing bipartisan consultations on the aid plan to halt, and said that major stimulus measures would be introduced after the elections, but changed his attitude a few hours later and asked Congress to pass quickly a new round of $ 25 billion. The rescue plan provides further assistance to airlines and small and medium-sized businesses, and is said to be ready to sign and approve the $ 1,200 rescue check bill.
Trump’s decision pushed aviation stocks higher in early trading. United Airlines (UAL-US) was up 5.39%, Delta Airlines (DAL-US) was up 3.32%, American Airlines (AAL-US) was up 3.19%, Southwest Airlines (LUV-US)) It went up 1.89 %%.
Later, on Wednesday (8), the United States Federal Reserve (Fed) will announce the minutes of the decision-making meeting on interest rates for September. Fed Chairman Jerome Powell asked once again on Tuesday (6) that Congress should adopt proactive fiscal and fiscal measures. Monetary policy to promote economic recovery.
At the same time, the Vice President of the United States, Mike Pence, will meet with the Democratic vice presidential candidate He Jinli (Kamala) on Wednesday (7) at 9 o’clock in the afternoon, that is, at 9 a.m. Taipei time on Thursday (8). Harris) for discussion.
At 21 o’clock on Wednesday (7) Taipei time:
- The Dow Jones Index rose 323.52 points, or 1.16%, to 28096.28 points temporarily.
- Nasdaq rose 131.70 points, or 1.18%, to 11,286.30 points temporarily
- The S&P 500 was up 37.90 points, or 1.13%, to 3,389.85 temporarily
- Commissions and media rose 40.38 points, 1.77%, temporarily at 2,321.47 points
- TSMC ADR rose 2.46% to $ 85.16 per share
- Yield on 10-year US Treasuries increased to 0.774%
- New York light crude oil fell 2.46% to $ 39.67 a barrel
- Brent crude fell 2.02% to $ 41.79 a barrel
- Gold fell 1.11% to $ 1,887.70 an ounce
- The US dollar index fell 0.09% to 93.655 points.
Focus actions:
Apple (AAPL-US) was up 1.48% in early trading to $ 114.84.
Apple officially sent the invitation letter on Tuesday (6). The second fall special lecture is scheduled to debut at 1 a.m. on October 14, Taiwan time. In addition to the long-awaited iPhone 12, new products such as AirTags are also expected. It will come out, and this special presentation will also be broadcast online live.
Boeing (BA-US) was up 2.92% in early trading to $ 164.20.
The Federal Aviation Administration (FAA) published on Tuesday (6) a preliminary report on the revised training procedures for the Boeing 737 Max. The proposal adds some training requirements to address Manipulative Features Improvement System (MCAS) security issues.
Before lifting the ban, the FAA must first determine if the 737 Max meets software update requirements and make system improvements. The lift order is expected to be announced in November and allow the 737 Max to resume commercial flights before the end of this year.
Macy’s (M-US) rose 3.61% in early trading to $ 6.02.
Macy’s announced on Tuesday (6) that it will cooperate with the DoorDash delivery platform to provide consumers with same-day and next-day delivery services, which will be provided by 500 Macy’s and the Macy’s subsidiary Bloomingdale’s. .
In accordance with regulations, orders placed at Macy’s before 12 noon or Bloomingdales before 1 pm will be delivered by DoorDash the same day, and orders placed after hours will be delivered the next day.
Daily key economic data:
- At 10:30 p.m. Taipei time, the EIA will announce the rise and fall of crude inventories last week, the previous value decreased by 1.98 million barrels.
Wall Street Analysis:
Axi Corp. market analyst Milan Cutkovic said: “Suspension of the bailout plan is unlikely to be a catalyst for a significant sell-off of the market, because most market participants did not expect that negotiation will be reached before the elections. However, if the stimulus measures have not yet been announced and investors may begin to worry about the weak economic recovery. “
James McCormick, market strategist at NatWest Markets, said: “Trump’s reversal of previous tweets deserves market attention. It made people think that he would issue specific stimulus measures.”
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