US stocks surged higher and fell back on Wednesday, while technology stocks generally fell, while Amazon fell 3percent

 US stocks surged higher and fell back on Wednesday, while technology stocks generally fell, while Amazon fell 3percent

On Wednesday, us time, the Dow Jones index closed at 21200.55, up 495 points, or 2.39%, up more than 6% in the session; the standard & Poors 500 index closed at 2475.56, up 1.15%; however, the NASDAQ index closed at 7384.29, down 0.45%. Boeing shares rose 30%, leading the Dow.

In Wednesday trading in US equities, technology stocks generally fell, with Apples shares closing at $245.52, down 0.55%; alphabet, Googles parent, at $1102.49, down 2.82%; Amazon at $1885.84, down 2.8%; Microsoft at $146.92, down 0.96%; Facebook at $156.21, down 2.96%; Oracle at $45.94, down 0.96 IBM was up 0.35% to $105.85, Netflix was down 4.18% to $342.39, Tesla was up 6.78% to $539.25, Uber was down 0.76% and LYFT was up 3.29%.

Chip leaders in US stocks also fell, with Intel closing at $51.26, down 2.18%; NVIDIA closing at $245.62, down 1.43%; Texas Instruments closing at $99.16, down 5.88%; Broadcom closing at $217.55, up 2.25%; Qualcomm closing at $63.08, down 3.64%; amd closing at $44.63, down 3.44%; micron technology falling 1.78%; application materials The company fell 0.91%.

Chinas Internet companies listed in the United States rose and fell, with Alibaba closing at $188.56, up 1.81%; JD closing at $41.35, up 0.83%; Baidu closing at $96.92, up 0.51%; pinduoduo closing at $37.26, up 3.36%; bilibilibili closing at $22.87, up 3.02%; iqiyi closing at $18.55, down 0.86%; Weibo closing at 34.96 USD, down 1.35%; Sina, down 0.85%; Sohu, up 1.42%; Sogou, up 4.18%; Ctrip, up 2.38%; 51job, up 2.38%; Auto home, up 2.2%; 58, the same city, up 1.06%; learn from others, up 6.35%; Jumei premium, up 2.2%.

U.S. stocks retreated from their highs in the last few minutes of trading as U.S. Senator Bernie Sanders said he was prepared to temporarily block the passage of the bill until stricter conditions are set for a $500 billion corporate welfare fund..

On Tuesday, us time, the Dow Jones index soared 2100 points, or more than 11%, the largest one-day percentage increase since 1933 and the largest one-day point increase in history. The standard & Poors 500 index rose 9.4%, its biggest one-day percentage gain since October 2008.

Early Wednesday morning us time, the White House and the Senate reached an agreement on an economic stimulus bill to deal with the new crown outbreak, with a total size of $2 trillion.

At around 1:37 a.m. EDT on Wednesday, Mitch McConnell, the Senate majority leader and Republican, announced in the Senate: we have finally reached an agreement. In fact, this is the level of wartime investment in our country.

Former Fed Chairman Ben Bernanke also said on Wednesday that the U.S. economy will rebound rapidly after a very serious recession. If we dont do too much damage to the workforce and businesses during the closure period, we can see a fairly rapid rebound in the economy no matter how long it has been, Bernanke told the media Bernanke added that the current situation was closer to a blizzard than the great depression.

He also acknowledged that the current chairman of the Federal Reserve, Jerome Powell, had acted swiftly to contain the economic impact of the outbreak. I think the Fed has been very proactive, he said. Powell and his team have been working very hard to get ahead. They show that they can make a series of different plans to help us keep the economy running during the shutdown.

However, novel coronavirus pneumonia cases are expected to improve in some cases, and some investors believe that the situation of the new global pneumonia cases is increasing.

Yousef Abbasi, head of U.S. institutional equities at intlfcstone financial, points out: people have to accept the idea that the longer you lose your job, the more you lose it. Therefore, in the current situation, it will be very difficult to see the market continue to rebound.

Novel coronavirus pneumonia cases have been diagnosed in about 400000 cases according to data from Johns Hopkins University (JohnsHopkinsUniversity). In the United States, more than 65000 cases have been confirmed, and in Italy, more than 74000.

New York State and city officials are also considering closing New York Citys parks, playgrounds and streets to strengthen social alienation, said New York governor Cuomo. However, he noted that the number of new cases in Westchester County had begun to decrease. This is seen as good news by some market participants.

Some investors novel coronavirus pneumonia, which has already seen a sharp rebound in stocks, because they have already anticipated the worst economic losses associated with the closure of the new crown pneumonia epidemic. They believe that even novel coronavirus pneumonia continues to surge, and the market may rebound because the market has been oversold.

(Liu Chun)

Source: Wang Fengzhi, editor in charge of Netease Technology Report