The US stimulus plan has little hope, and the focus turns to the last non farm before the election

category:Finance
 The US stimulus plan has little hope, and the focus turns to the last non farm before the election


4. The negotiations between the two parties in the United States are still empty for several months, and the stimulus plan is expected to be difficult to launch before the election.

Global stock market

U.S. economic data released on Thursday were mixed. U.S. consumer spending rose 1% month on month in August, the lowest since the U.S. economic restart. Meanwhile, personal income fell 2.7% month on month in August, the biggest drop in three months. In addition, the ISM manufacturing index of the United States was unexpectedly poor in September. Although it increased for the fourth consecutive month, it fell from 56.4 to 55.4, also lower than the expected value of 56.3. But the number of new US jobless claims last week was slightly better than expected.

The market focus turned to the last non farm report before the election, with the market expecting a sharp slowdown in labor market growth. Analysts median forecast for non farm employment in September was 875000, up from 1.37 million in August. The unemployment rate is likely to drop slightly to 8.2%. This will be the smallest increase since the recovery of employment, and it is likely to slow down or even turn down.

commodity market

Weak U.S. economic data boosted gold prices. December gold, the most actively traded gold futures market on the New York Mercantile Exchange, rose $20.8 on the first day to close at $1916.3 an ounce, up 1.1%. Silver futures for December delivery rose 76 cents, or 3.23%, to $24.254 an ounce.

The price of light crude oil for November delivery on the New York Mercantile Exchange fell $1.5 on Thursday to close at $38.72 a barrel, or 3.73%, while London Brent crude oil futures for December delivery fell $1.37 to $40.93 a barrel, or 3.24%, to $40.93 a barrel.

Market news

[negotiations between the two parties in the United States are still in vain for several months, and the stimulus plan is expected to be difficult to launch before the election

The deadlock in the new round of US stimulus plan is still hard to break, and it is almost impossible for the two parties to reach an agreement before the election. Several media reports on Thursday said Pelosi was very skeptical about reaching an agreement, and the two sides are still very divided. The house of representatives will vote on the $2.2 trillion plan on Thursday local time, but the vote is almost symbolic and almost impossible to pass in the Senate.

[Moodys downgraded New Yorks credit rating for the first time in 30 years

Moodys on Thursday downgraded New York States general responsibility credit rating from Aa1 to aa2, and also downgraded New York City. Moodys said it was the first time the company had downgraded New York state since June 1990. The rating outlook is stable.

[the most expensive election is coming: nonpartisan organizations are expected to spend $10.8 billion on the election

According to the nonpartisan Center for Responsive Politics (CRP), U.S. presidential campaign spending is expected to reach a record $10.8 billion in 2020. CRP points out that so far, spending on the 2020 election has reached $7.2 billion. By contrast, excluding inflation, the campaign cost in 2016 was $7 billion.

Investors may be exiting emerging markets as uncertainty over the US election intensifies risk aversion, the International Finance Association said. Our data suggest that there is a huge risk aversion brewing in emerging markets, and we are tracking high-frequency capital outflows from emerging markets in the last few weeks of September, almost as large as the scale of the downsizing storm in 2013, wrote Jonathan fortune, an IIF economist in Washington

[multiple negative profits shrouded the oil market, and international oil prices fell sharply again

Driven by multiple negative factors, international oil prices fell sharply on Thursday, with demand curbed by the epidemic situation, increased OPEC production and little hope for the US stimulus plan, all of which hit Bulls confidence. WTI crude oil futures and Brent crude oil futures all closed down more than 3%, and the US oil market once fell more than 6%.

[Moderna CEO: the new crown vaccine will not be launched before the election

Stephane Bancel, chief executive of Moderna, a US biotech company, said on Wednesday local time that the new coronavirus vaccine being developed by Moderna would not be ready before the US presidential election and would not seek emergency use authorization from the food and Drug Administration (FDA) as early as November 25, according to media reports. It is expected to be until spring 2021 It will only be approved for distribution to the general public.

[Google promises to pay publishers $1 billion over the next three years

[India plans to launch domestic app store to replace apple and Google

India is planning to launch its own app store to replace Apples and Googles app stores, according to media reports on Thursday. Unlike Google and Apple stores, the store wont charge a 30% draw, the source said.

[it is reported that Goldman Sachs acquired GM credit card business for us $2.5 billion

According to media reports, Goldman Sachs will spend about $2.5 billion to buy GMs credit card business, which will further push Goldman into the general public loan business. Goldman Sachs, a new entrant in the credit card sector, beat Barclays to more than 1 million universal credit card holders and about $8.5 billion in annual spending, according to people familiar with the matter.

[Gilead: FDA is about to approve radcivir

The U.S. Food and Drug Administration is about to approve its new crown treatment drug, radcivir, Gileads chief business officer, Johanna Mercier, said on Thursday. The FDA issued an emergency use authorization for redcivir in May, but its effectiveness needs to be demonstrated before final approval can be obtained.

[European Drug Administration accelerates review of Oxford / AstraZeneca new crown vaccine

[the price of Tesla standard extended model 3 drops to 249900 yuan

According to Tesla Chinas official website, the price of the model 3 standard endurance upgrade version made in China is 249900 yuan after subsidy, and the price of the long range rear wheel drive version of the model 3 made in China after subsidy is 309900 yuan. According to industry insiders, the reduction of sales price of model 3 made in China by Tesla this time may be closely related to the technical upgrading and continuous improvement of localization rate of the model, thus reducing the R & D and manufacturing costs of Tesla.

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