U.S. stocks opened high and went low on Wednesday, falling for two consecutive days. The Dow Jones Industrial Average fell 344.93 points, or 1.2%, to 29438.42, the highest gain of 147 points. The S & P 500 index fell 1.2%, or 41.74 points, to 3567.79; the Nasdaq composite index fell 0.8%, or 97.74 points, to 11801.6.
Pfizer and biontech closed up 0.8% and 4% respectively. Pfizer and biontech announced the final analysis results of phase III trials on Wednesday, and their new crown vaccine showed 95% effectiveness, slightly higher than the 94.5% effectiveness of Moderna vaccine. They will apply to the U.S. Food and Drug Administration for emergency use authorization in the next few days.
However, the deterioration of the new cap epidemic in Europe and the United States has cast a shadow on the positive news brought by the vaccine. The novel coronavirus pneumonia has reached more than 11 million 420 thousand cases, reaching 11424275 cases, with nearly 250 thousand deaths, reaching 249477 cases, according to statistics from Johns Hopkins University in the United States, at 15:25 on the 18 th Eastern time (19 hours in Beijing, 04 hours and 25 minutes).
Wall street people said that the positive progress of the vaccine eliminated the long-term uncertainty that investors have been cautious about, and the context of whether it can be normalized becomes when it can be normalized.
Big tech stocks led the decline. Apple, Microsoft, Googles parent company alphabet and Facebook all fell at least 1%. Tesla, which was rated by Morgan Stanley, bucked the trend and rose 10%. The novel coronavirus pneumonia was infected by ElonMusk, Tesla CEO, on November 18th, according to CCTV news.
NVIDIA rose more than 2% after trading. After hours, NVIDIA announced the adjusted earnings per share of the last quarter of $2.91, with an expected $2.57; revenue of $4.73 billion, expected to be $4.41 billion, of which the revenue of data center was $1.9 billion, up 162% compared with the same period last year. At the same time, the company released a strong and favorable fourth quarter revenue outlook.
The Federal Aviation Administration (FAA) lifted the ban on Boeing 737max 20 months after two fatal crashes. But the reality of the outbreak is difficult to change. Boeings share price jumped 4% in the morning, and finally fell 3.21%.
In terms of China concept shares, eggshell apartments closed up 88%. The shares were listed in the US stock market in January this year. It was the first China capital stock to land on the New York Stock Exchange this year. The issue price was $13.5. Even with todays increase, it was still 67% lower than the issue price. Recently, the eggshell has been reported to be disconnected from the Internet, defaulting on the payment of partners, and defaulting on the landlords rent. However, the companys official declared that it was not bankrupt and would not run away. Market participants believe that the stocks sharp rise is mainly due to the rumor that I love my family to buy. However, in view of the accumulated eggshell loss of more than 6 billion yuan, I love my family may not be willing to take over the offer.
The Dow is just a step away from the 30000 mark, and Patrick Spencer, head of equity investment at investment bank bear, believes the Dow may still have a chance to hit the 40000 mark next year.
The Dow covers more value stocks than growth stocks, and with the change of investor style, value stocks are likely to outperform growth stocks in the future, Spencer said. We believe that the Dows rise will continue in the next year. At present, many investors are still sitting on the sidelines. Once the vaccine is successfully launched, value stocks will become more popular. Were likely to see the Dow hit 40000 next year. However, we need to be vigilant that the future trend of the epidemic and the economic stimulus plan of the US government will still affect the sentiment of investors, and the market may still fluctuate violently.
The performance of value stocks often depends on the performance of the economy, and the recent good news from the two vaccines has stimulated hopes for economic recovery and has led investors to turn to value stocks. In a report, Baird pointed out that in addition to the cyclical industry, materials and technology sectors, investors can also pay close attention to the entertainment, aviation, casinos / Cruise and hotel stocks that are greatly affected by the epidemic. Once the vaccine is available, these industries will be rejuvenated.
OPEC + may consider delaying crude oil production plan, WTI crude oil hit an 11 week high. Oil prices continued to rise on Wednesday, although US crude oil inventories increased more than expected, but the news that OPEC + may delay the oil production increase plan further boosted oil prices. Brent crude rose 70 cents, or 1.6%, to $44.45 a barrel, while WTI crude rose 39 cents to an 11 week high of $41.82 a barrel.
Bjornar tonhaugen, head of crude oil at rystad energy, said: oil prices rose slightly today as OPEC + may postpone its crude oil production increase plan in January next year, as well as the production increase and the latest vaccine news. But US crude oil inventories rose by 4.2 million barrels last week, well above the 1.7 million barrels expected.
In response to the weak energy demand under the impact of the epidemic, Saudi Arabia called on OPEC + members to take flexible measures to meet the needs of the oil market. Before OPEC + holds a comprehensive ministerial meeting from November 30 to December 1 to discuss policies, sources have revealed that OPEC + members are inclined to postpone their previously proposed plan to increase crude oil production by 2 million barrels per day, and may consider delaying the production increase plan by three to six months.
European stocks rose on Wednesday. By the end of the day, Germanys DAX index and Frances CAC40 index had the largest gains, followed by the European Stoxx 600 index and the pan European excellent 300 index, and the UK FTSE 100 index was the smallest. In terms of data, the International Monetary Fund (IMF) predicts that the German economy will shrink by 5.5% this year, and there will be a partial recovery next year. Affected by the impact of the second epidemic, Germanys economic growth prospects are weak and the downside risks are highlighted. In contrast, however, Germanys economy is already a model student in Europe, and its recession level is far lower than that of other European powers. The UK economy performed better than expected in the third quarter, but the economic outlook for the fourth quarter is very uncertain, and economic activity is likely to be lower than at the beginning of the year, according to the Bank of England chief economist Gordon Holden. Source: Chen Hequn, editor in charge of Finance and Economics_ NB12679
European stocks rose on Wednesday. By the end of the day, Germanys DAX index and Frances CAC40 index had the largest gains, followed by the European Stoxx 600 index and the pan European excellent 300 index, and the UK FTSE 100 index was the smallest.
In terms of data, the International Monetary Fund (IMF) predicts that the German economy will shrink by 5.5% this year, and there will be a partial recovery next year. Affected by the impact of the second epidemic, Germanys economic growth prospects are weak and the downside risks are highlighted. In contrast, however, Germanys economy is already a model student in Europe, and its recession level is far lower than that of other European powers. The UK economy performed better than expected in the third quarter, but the economic outlook for the fourth quarter is very uncertain, and economic activity is likely to be lower than at the beginning of the year, according to the Bank of England chief economist Gordon Holden.