30000 points! Dow meets milestone, Tesla market value exceeds 500 billion US dollars

 30000 points! Dow meets milestone, Tesla market value exceeds 500 billion US dollars

On Tuesday, all three major U.S. stock indexes opened high. The hope brought by the vaccine for economic recovery and the U.S. governments initiation of the transition process boosted market sentiment, and the Dow broke through the 30000 mark. At the end of the day, the Dow rose 454.97 points, or 1.54%, to 30046.24, the NASDAQ rose 1.31% to 12036.79, and the S & P 500 index rose 1.62% to 3635.41.

The Dow is up more than 13% this month, which will be the biggest monthly gain since 1987. The S & P 500 index and the NASDAQ index are up 11.2% and 10.1% respectively, which are the best monthly performance since April. In a brief speech at the White House, President trump said, I just want to congratulate you. The Dow just hit 30000 points, a record high in history, unprecedented.

Market Overview

The U.S. General Services Office officially informed Bidens team on the 23rd that the governments transition process had been approved, which weakened the political uncertainty of previous market concerns, while Yellens nomination as the next Treasury Secretary increased the markets expectations of stimulus policies. Ed mills, a policy analyst with Raymond James, said it was a strong sign that Biden would focus on rebuilding the economy rather than pursuing aggressive regulatory policies, which is a positive development for the market but more important for the economy as a whole.

Large bank stocks in the United States generally rose, investors were optimistic about the prospect of yelen becoming the Treasury Secretary of the United States. Wells Fargo Bank rose 8.8%, Citigroup rose 7.0%, Bank of America rose 5.8%, Morgan Stanley rose 5.5% and JPMorgan Chase rose 4.6%.

In technology stocks, Facebook rose 3.2%, Google 2.0%, Microsoft 1.8%, apple 1.2% and Amazon 0.6%.

The AmChams consumer confidence index fell to 96.1 in November from 101.4 in October, a decline that exceeded market expectations. Lynn Franco, senior director of economic indicators at the consulting chamber, said the index was driven down by the pessimistic view of the economic outlook in the coming months. In 2021, consumers cannot foresee economic and labor market growth. The prospect of a resurgence of uncertainty is further exacerbated by covid. She said.

A number of Fed officials spoke, and New York Fed chairman William Williams said that the current Federal Reserves bond purchase program is well achieving the goal, but the Fed may also adjust parameters if necessary. St. Louis Fed chairman Brad said long term nominal interest rates are currently low and are expected to remain low for the foreseeable future.

Tesla opened higher than 3% on Tuesday, with its market value exceeding $500 billion and closing at $555.38, up 6.4%, with a total market value of $520 billion.

Tesla will join the S & P 500 index before December 21, and the fund tracking the index will begin to passively allocate Tesla shares. Institutions predict that the relevant funds will be close to $50 billion, which further promotes the recent stock price. Tesla has increased more than five times this year. Morgan Stanley also raised Teslas rating to buy last week, the first time in years that Morgan Stanley has raised its rating on the stock.

According to the latest index, musk has surpassed Microsoft founder Bill Gates to become the worlds second richest man, with his net worth growing by more than $100 billion since 2020. In January, musk ranked 35th on the list and is now just behind Amazon CEO Bezos.

Other markets

Carlstenfritsch, an analyst at Deutsche Bank, said the tightening of the oil market was mainly affected by strong demand from Asian markets and the decline in inventories by oil producers. However, the world is still a long way from the recovery of the economy, and it takes a long time for people to vaccinate, which brings uncertainty to the market. Affected by the cooling of risk aversion, international gold prices have reached a four month low. COMEX gold closed down 1.8 percent in December to close at $1804.60 an ounce. European stocks rose all the way, with the pan European stock 600 index up 0.91 percent to 392.39, the FTSE 100 index up 1.55 percent to 6432.17, the DAX30 index in Germany up 1.26 percent to 13292.44, and Frances CAC40 index up 1.21 percent to 5558.42.

Affected by the cooling of risk aversion, the international gold price hit a four month low. COMEX gold December contract closed down 1.8% to $1804.60 an ounce.

European stocks rose across the board, with the pan European Stoxx 600 index up 0.91% to 392.39, the FTSE 100 index up 1.55% to 6432.17, Germanys DAX30 index up 1.26% to 13292.44, and Frances CAC40 index up 1.21% to 5558.42.

The Dow broke through 30000 for the first time