By the end of October 2, the three major U.S. stock indexes closed lower. The Dow fell 0.48%, the NASDAQ fell 2.22%, and the S & P 500 fell 0.96%. Amgen fell nearly 4%, apple fell more than 3%, leading the Dow. Technology stocks suffered heavy losses, with Amazon down nearly 3%, Netflix down 4.6% and Tesla down more than 7%.
By the end of the day, the Dow was down 0.48% to 27682.81, the S & P 500 was down 0.96% to 3348.42, and the Nasdaq was down 2.22% to 11075.02. This week, the Dow was up 1.87%, the Nasdaq was up 1.48%, and the S & P 500 was up 1.51%. The Dow and the S & P 500 ended four weeks of falling.
House Speaker Nancy Pelosi said aid measures for the aviation industry may come soon. After Pelosis speech, the Dow rose for a time. However, the U.S. House of Representatives failed to pass the aviation industry rescue bill, and immediately announced the recess.
Major U.S. technology stocks fell across the board, with apple down 3.23%, Amazon 2.99%, Netflix 4.63%, Google 2.17%, Facebook 2.51% and Microsoft 2.95%.
Bank of America shares rose, with JPMorgan Chase up 0.94%, Goldman Sachs up 0.68%, Citigroup up 0.51%, Morgan Stanley up 1.5%, Bank of America up 0.46%, Wells Fargo up 1.83%.
In addition, the U.S. non farm employment data for September was less than expected, indicating that many Americans and businesses are in a difficult situation due to the absence of vaccines and government assistance, and the pace of economic recovery has slowed down.
On October 2, European stocks closed up with mixed gains and losses. Germanys DAX index fell 0.33% to 12689.04 points, up 1.76%; Frances CAC40 index rose 0.02% to 4824.88 points, up 2.01%; the UK FTSE 100 index rose 0.39% to 5902.12 points, up 1.02%.
On October 2, most Asian and Pacific stock markets closed down, with the Nikkei 225 index down 0.67% to 23029.9 points, down 0.75% this week; Australias & P 200 index closed down 1.39% to 5791.5 points, down 2.91% this week; New Zealands & P 50 index closed up 0.09% to 11822.84 points, up 0.22% this week; South Koreas stock market was closed for the Mid Autumn Festival.
//Good news from several companies//
Tesla: the delivery volume in the third quarter was 139300, a record high of 90650 in the previous quarter; the automobile output in the third quarter was 14503600, and the delivery of models s and modelx was 15200; in the third quarter, the new vehicle inventory further declined.
Apple: according to the latest news from German media, the internal system of European dealers shows that Apple has prepared at least five iPhone 12 models, which are scheduled to be launched on October 13. The basic and entry-level model is the iPhone 12mini, which has the most abundant color choices, including black, white, coral, blue, red and yellow.
Ideal cars: 3504 cars were delivered in September, and ideal one increased by 29.3% month on month in September, which was the third consecutive month for ideal one to achieve month on month increase in delivery; 8660 vehicles were delivered in the third quarter, with a month on month increase of 31.1% over the second quarter, setting a new quarterly delivery volume.
GM: is considering revising the terms of its deal with the troubled Nikolay Motor Company in search of more shares in the company, which has fallen sharply after being accused of fraud by short sellers.
Amazon: so far, more than 19000 Amazon frontline employees in the United States are infected with the 2019 coronavirus disease, accounting for 1.44% of its total employees.
Wal Mart: sold Asda, a British supermarket chain, for $8.8 billion. The acquisition group consists of tdrcapital, a private equity firm, and Issa brothers, founder of EG group, a gas station chain.
Uber: greenberry equity, a private equity firm, will invest $500 million in Ubers logistics unit Uber freight, valuing it at $3.3 billion. Uber will continue to hold a majority stake in the business.
Southwest Airlines: if Congress does not further aid the aviation industry, layoffs may be imminent.
Marathon Oil: the company resumed its quarterly dividend after suspending it in May because of the fall in crude oil prices. The dividend, which is 3 cents a share, will be paid on December 10 to shareholders with records on November 18.
//US oil once fell more than 5%//
On October 2, international oil prices fell across the board, with NYMEX crude oil futures down 4.42% to $37.01/barrel, down 8.05% for two consecutive weeks, and oil distribution fell 4.18% to $39.22/barrel.
On October 2, Comex gold futures fell 0.64% to $1904.1/oz, up 2.03% for the week; Comex silver futures fell 1.62% to $23.86/oz, up 3.32% for the week. The position of SPDR gold trust, the worlds largest gold ETF, decreased by 0.59 tons or 0.05% compared with the previous day, and the current position was 1275.6 tons. The position of iShares silver trust, the worlds largest silver ETF, increased by 372.76 tons compared with the previous day, and the current position was 17452.19 tons.
Copper rose 2.47% to US $6545 / T, zinc fell 0.47% to US $2315.5/t, nickel fell 0.23% to US $14310 / T, aluminum rose 1.24% to US $1761/t, tin rose 3.28% to US $17870 / T, and lead fell 1.99% to US $1771.5/t.
On October 2, the main agricultural futures contracts on the Chicago Board of trade (CBOT) all fell, with soybean futures down 0.34% to $10.2/bushel; corn futures fell 0.85% to $3.795/bushel; wheat futures rose 0.53% to $5.7325/bushel.
On October 2, the main contract of agricultural products futures on the Intercontinental Exchange (ice) was mixed, with raw sugar futures flat at 13.58 cents / pound; cotton futures fell 0.09% to 65.85 cents / pound.
The U.S. Department of Agriculture estimates that for the week ending October 3, federal inspection of beef production rose to 558 million pounds from 547 million pounds last week. Pork production increased by 0.4% and pig slaughter increased by 0.1% compared with a week ago. This year, beef production is down 1.5% from last year, while pork production is up 1.8% over last year.
//Offshore RMB rose above 6.74//
On October 1, the offshore yuan rose above 6.74 to 6.7365 against the US dollar, the first time since May 2019. The US dollar index fell continuously, falling below 94 again. On October 2, the offshore RMB made a small correction against the US dollar, but still maintained the trend of appreciation.
According to the latest IMF data, at the end of the second quarter of this year, the total amount of RMB foreign exchange reserves rose from US $220.1 billion at the end of the first quarter to US $230.4 billion, achieving six consecutive quarters of growth. The proportion of RMB in the global official foreign exchange reserve currency structure also rose to 2.05%, a record high.
Looking forward to the fourth quarter, many industry insiders pointed out that the biggest risk point of the US election in November is expected to drive up market volatility, and some investors may make profits ahead of time or wait and see. However, with the support of the overall economic recovery and domestic monetary policy, the stock exchange rate is still expected to strengthen hand in hand.
Industry analysts pointed out that the steady rise of the RMB exchange rate is due to the improvement of the attractiveness of RMB assets and the faster than expected recovery process of Chinas economy. Wen bin of China Minsheng Bank said that there are three reasons for the appreciation of the RMB: first, the dollar index has been declining; second, Chinas economy is resilient; third, the RMB and Chinas economic prospects have attracted the attention of international investors.
//The number of non-agricultural employment increased by 661000 in September//
After the September quarter adjustment in the United States, the number of non-agricultural employment increased by 661000, expected to increase by 850000, and the former value increased by 1.371 million; the unemployment rate was 7.9%, which was the fifth consecutive month of decline, which was expected to be 8.2% and the former value was 8.4%; the average hourly wage increased by 0.1% month on month, expected to increase by 0.2%, and the former value was revised down to 0.3%; the average hourly wage increased by 4.7% year-on-year, expected to increase by 4.8% and the former value by 4.7%; the employment participation rate was 6.7% 4%, the expected 61.9%, and the previous value was 61.7%.
Huck of the Federal Reserve: many jobs lost during the epidemic have not been restored, and the wage consumption of low-income people can boost the growth of GDP; after the inflation level is lower than 2% for a long time, the Federal Reserve will accept the phenomenon that inflation is higher than 2%.
//Personal income in the United States declined significantly in August//
The significant decrease of unemployment benefits is the main reason for the sharp decline of personal income month on month. The U.S. Congress has yet to reach an agreement on a new round of economic stimulus plan, which may lead to the continuous decline of personal income in the United States.
Personal consumption expenditure accounts for about 70% of the total U.S. economy. The continued decline of personal income may lead to the decline of personal consumption expenditure in the fourth quarter of the United States, which will affect the process of economic recovery in the United States.
According to data released by the U.S. Labor Department on Monday, 837000 people applied for unemployment benefits for the first time in the week ending September 26. As of September 19, the number of people applying for unemployment benefits in the United States was at a high level of 11.767 million, highlighting the difficulties in the recovery of the employment market.
According to data released by the U.S. Department of Commerce, in the second quarter of this year, the U.S. gross domestic product fell at an annual rate of 31.4%, of which personal consumption fell by 33.2%. Although the market is generally expected that the U.S. economy is expected to rebound significantly in the third quarter, the possibility of the economy falling into recession in the whole year is still high.
//Big news from many pharmaceutical companies//
According to the financial times, the CEO of Moderna, a US biotechnology company, said the new crown vaccine that the company is developing could not be available before the election. He said all approvals would not be completed until next spring.
I cant predict exactly when, or even if, our vaccines will be approved by the U.S. Food and drug administration, Pfizer CEO said. But I know that the world will be safer if we stop talking about vaccine supply in political terms and focus on establishing strict, independent, scientific assessment processes and strong independent approval procedures. Trials of the drug giant AstraZenecas new crown vaccine in the U.S. are still suspended because a British volunteer has a serious neurological condition, but the U.S. Food and Drug Administration (FDA) has never explained why, CNN reported. In a conference call with reporters, Johanna Mercier, Gileads chief business officer, said the U.S. Food and Drug Administration (FDA) is about to approve its promising new crown treatment drug, radcivir. Mercier said Gilead and the FDA were very close to finalizing the new drug application for radcivir. Prior to this, the FDA issued an emergency use authorization for redcivir in May, but its effectiveness needs to be proved before final approval can be obtained. U.S. Department of justice appeals against the wechat ban and seeks to reject the injunction. US media: the actual number of deaths in the U.S. epidemic situation far exceeds the public statistics. Tesla vice president responds to price reduction: there is no intentional concealment. Source: Wind Information Editor: Yang Bin_ NF4368
I cant predict exactly when, or even if, our vaccines will be approved by the U.S. Food and drug administration, Pfizer CEO said. But I know that the world will be safer if we stop talking about vaccine supply in political terms and focus on establishing strict, independent, scientific assessment processes and strong independent approval procedures.
Trials of the drug giant AstraZenecas new crown vaccine in the U.S. are still suspended because a British volunteer has a serious neurological condition, but the U.S. Food and Drug Administration (FDA) has never explained why, CNN reported.
In a conference call with reporters, Johanna Mercier, Gileads chief business officer, said the U.S. Food and Drug Administration (FDA) is about to approve its promising new crown treatment drug, radcivir. Mercier said Gilead and the FDA were very close to finalizing the new drug application for radcivir. Prior to this, the FDA issued an emergency use authorization for redcivir in May, but its effectiveness needs to be proved before final approval can be obtained.