Jason Katz, managing director and senior portfolio manager at UBS, shares his thoughts on the volatility of the market and the presidential election.
TOKYO – Asian stimulus on Asian and U.S. stocks on Thursday may come after all the optimistic optimism after all, as President Donald Trump appeared to reverse his earlier decision to suspend talks on other economic rescue efforts.
Japan’s benchmark Nikkei 225 traded up 1.0% at 23,651.55 in the afternoon trade. South Korea’s Kospi rose 0.4% to 2,396.57. Australia’s S&P / ASX 200 jumped 1.1% to 6,102.20. Hong Kong’s Hang Seng fell 0.7% to close at 24,075.66. Trade was closed in Shanghai for the holiday.
Shares rose in India and Taiwan but fell in Singapore.Flying IGH on high technology threatens to fly
Ricky Ogawa of Mizuho Bank in Singapore noted that there remains considerable uncertainty in investors’ moods in response to Trump’s gestures of “rollercoaster” motivation.
Ogawa said the progress of the financial stimulus debate in the US rarely inspires confidence, adding that such uncertainty will continue through the presidential election campaign and perhaps even after the vote.
S&P 500 Late Tuesday night, Trump sent a series of tweets saying he was open to sending $ 1,200 payments to Americans, and offering limited programs to advance the airline industry and small businesses. The S&P 500 rose 1.1% to 4,419. Reached at .45.
Asian stimulus was higher on Thursday as U.S. excitement over optimism may come after all, as President Donald Trump appeared to reverse his earlier decision to suspend talks on other economic rescue efforts.
(Photo by Spencer Platt / Getty Images)
The tweets came just hours after Trump sent the market to the tail, announcing that House Speaker Nancy Nello Pelosi was negotiating on bad faith, with Trump announcing that negotiations with Democrats on broader economic promotion efforts should be halted until the election.
This is not the case, as economists, investors and the Federal Reserve chairman all say that the economy needs another measure of support after the end of congressional weekly unemployment benefits and other stimulus earlier this year.
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The Dow Jones Industrial Average rose 1.9% to 28,303.46. The Nasdaq Composite rose 1.9% to 11,364.60, despite congressional demands from Democratic legislators to dominate Big Tech companies and others.
The proposal, following a 15-month investigation by the House Judiciary Committee panel, could make it difficult for Amazon, Apple Paul, Facebook and Google’s parent company to acquire other companies and impose new rules for security competition.
Still, much of the market’s attention depends on the prospects for further stimulation of the economy from Washington.
Airlines jumped into some of the biggest gains of the day after Trump started the industry, telling Congress that “immediately” approved 25 25 billion for them. The S&P 500 rose sharply as technology stocks gained the most. Other sectors that would benefit the most from a strong economy were Chinta, including retailers and travel companies.
Smaller stocks also outperformed the rest of the market, a sign of growing optimism about the prospects for the economy. The Russell 2000 index of small-cap stocks rose 2.1% to 1,611.04.
The 360-degree spin for Wall Street in less than 24 months is the latest bump in its volatile run early last month. Investors are also concerned about whether the ongoing epidemic will force governments to impose more restrictions on businesses. Tensions between the United States and China remain high.
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In energy trading, the benchmark U.S. Crude was up સેન્ટ 40.01 a barrel in electronic trading on the New York Mercantile Exchange, up 6 cents. Internationally, Brent crude rose 14 cents to 42 42.13 a barrel.
The US dollar fell from 105.98 yen to 105.96 Japanese yen late Wednesday night. The euro is priced at 17 1.1764, slightly higher than $ 1.1762.
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Contributed by AP business writers Stan Choi, Damien J. Trois and Alex Vega.
