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Tuesday (22) the clashes between the United States and China in the UN General Assembly, the epidemic between the United States and Europe worsens, the United Kingdom plans to implement another 6-month lockdown, the uncertainty before the American elections, the negotiations of Bipartisan stimulus still stalled, Fed Chairman Bower sees US economic recovery Influenced by news like the long road, the main index showed mixed performance after the US stock market opened.
In the final hours of trading, Amazon led the continued rise and tech stocks had a solid back seat. The top four indices closed in red at the bottom. The Dow Jones rose more than 140 points, the Nasdaq, the S&P and rates rose more than 1%, ending four consecutive transactions Daily decline.
After Chinese leader Xi Jinping satirized intimidation of US hegemony on Monday, Trump on Tuesday condemned China for spreading new lies about the crown, and the United Nations should hold China accountable for the global pandemic.
Fed Chairman Bauer and Treasury Secretary Mennuchin testified before the House Financial Services Committee on Tuesday. Bauer reiterated that the Fed will continue to use its tools for as long as possible to ensure that the economic recovery is as strong as possible.
Bauer said the Fed will continue to support the economy. The economy has improved a lot. However, until the new corona epidemic is controlled, it is impossible to expect a full economic recovery. The economic outlook is still full of uncertainties and advocates for more financial assistance.
The Jizikudlow White House responded that the US economy does not need more stimulus bills to achieve a V-shaped recovery, but specific bailout cases can go a long way.
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 exceeded 31.3 million and the number of deaths exceeded 965,000.
The new corona epidemic in the United States has worsened and the number of confirmed cases has increased in more than half of the states in the United States. On Monday, the United States reported 52,000 new confirmed cases, the highest increase in a single day since Aug. 14. The cumulative number of confirmed cases exceeded 6.86 million and the cumulative number of deaths exceeded 200,000. Trump said on Tuesday that after the UK announced the new lockdown, the United States will not follow up and will continue to open up the economy.
Tuesday (22) the performance of the four main stock indices of the United States:
- The US Dow Jones stock index rose 140.48 points, or 0.52%, to close at 27,288.18 points.
- The S&P 500 Index rose 34.74 points, or 1.06%, to close at 3,315.80 points.
- The Nasdaq index rose 184.84 points, or 1.71%, to close at 10,963.64 points.
- The Philadelphia Semiconductor Index rose 25.98 points, or 1.21%, to close at 2,180.26 points.
The Big Five Tech Giants are like a rainbow. Apple (AAPL-US) was up 1.57%; Microsoft (MSFT-US) was up 2.41%; Amazon (AMZN-US) was up 5.69%; Alphabet (GOOGL-US) was up 2.08%; Facebook (FB-US) rose 2.66%.
Dow Jones component stocks led Nike’s earnings. Nike (NKE-US) Financial Report Jiexi rose 3.09%; Amgen (AMGN-US) was up 1.77%; United Health (UNH-US) fell 1.65%; Visa (V-US) fell 1.58%; Disney (DIS-US)) rose 1.41%.
Fei half component shares overpaid. AMD (AMD-US) fell 0.30%; Intel (INTC-US) rose 0.44%; Micron (MU-US) was up 1.12%; NVIDIA (NVDA-US) was up 1.00%; Qualcomm (QCOM-US) was up 1.74%.
The ADR for Taiwan stocks was mixed. TSMC ADR (TSM-US) fell 0.14%; UMC ADR (UMC-US) was up 0.23%; ASE ADR (ASX-US) fell 1.43%; Chunghwa Telecom ADR (CHT-US) was up 0.03%.
Featured Stock News
Amazon rose 5.69% Tuesday to $ 3,128.99 a share. Investment bank Bernstein upgraded Amazon’s stock price rating (AMZN-US) to “best performance.” Analysts noted that the recent market correction has created a shopping appeal for Amazon (Amazon fell more than 10% this month).
Tesla (TSLA-US) fell 5.60% to $ 424.23 a share. The company’s CEO, Elon Musk, released spoilers ahead of “Battery Day.” The technology revealed on Battery Day will affect the long-term production of electric vehicles, but will not be able to reach mass production levels before 2022.
Intel (INTC-US) was up 0.46%. The company announced on Monday that it has obtained a supply license for Huawei and can continue to produce Huawei’s NB project. This is another major US CPU maker to get supplies from Huawei after AMD (AMD-US). license.
AstraZeneca and Moderna plan to wait for more test results to appear. Pfizer (PFE-US) is expected to outperform other rivals and be the first to find out if its new corona vaccine can be effective. Ruihui closed with 0.64%.
Economic data
- Total annualized sales of existing homes in the United States in August reported 6 million, which is expected to be 6 million, and the previous value was 5.86 million.
Wall Street Analysis
Wall Street suffered a strong liquidation in the previous day. So far, the S&P has fallen more than 5% in September, the Nasdaq has fallen 7.4% so far, and the Dow Jones has fallen 4.2%.
JJ Kinahan, chief market strategist at TD Ameritrade, said: “There is no reason to believe that the market will not continue to fluctuate, the virus will cover everything, there is no end date and it is not known when there will be a solution.”
Lindsey Bell, chief investment strategist at Ally Invest, said: “Fears about the virus have resurfaced and investors are concerned that the reboot in the economy may be reversed. As the general election approaches, more and more have emerged. uncertainties. There has been no progress on the stimulus, but we are still optimistic that we will buy dips early rather than buy later. “
Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, believes that we believe the stock market is expected to grow due to the possible development of a successful vaccine, the end of electoral uncertainty, the approval of a new fiscal stimulus plan for US and continued support for unconventional currencies globally. Higher in the medium term
Mark Haefele said, however, that the road ahead may be bumpy, so we expect volatility to continue into the second half of this year.
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