Data better than expected, Dow rose 0.29percent US stimulus talks resume

category:Finance
 Data better than expected, Dow rose 0.29percent US stimulus talks resume


Market profile:

The progress of the vaccine listing, the continued promotion of the US economic stimulus plan, and the signs of improvement in the employment market have jointly boosted investor confidence. However, at the end of the day, US media reported that Pfizer had halved its annual production target to 50 million doses due to supply chain challenges. The rise and fall of US stocks subsequently fell. The rise and fall of vaccine stocks varied, with Pfizer down 1.74%, biontech down 1.99% and Moderna up 9.97%.

The U.S. Congress continued to work hard to launch an economic stimulus package for the new epidemic. House Speaker Nancy Pelosi and Senate Majority Leader McConnell resumed negotiations. There are various signs that the bipartisan proposal with a total aid of 908 billion US dollars is gaining more and more support. US President trump also said that he would support the introduction of the aid bill. Daniel pavilonis, senior market strategist at rjo futures, believes that President elect Biden may introduce more stimulus measures when he takes office.

The number of new jobless claims in the United States decreased significantly last week. According to the data released by the U.S. Department of labor, in the week ending November 28, the number of new jobless claims was 712000, with an expected 775000, the previous value of 787000; the number of new claims for unemployment benefits fell for the first time in three weeks, and the employment market still showed resilience under the epidemic situation. In the United States, 5.52 million people continued to apply for unemployment benefits in the week ending November 21, a new low since March 21. The U.S. labor department will release its November non farm employment and unemployment rate report on Friday.

The novel coronavirus pneumonia cases were diagnosed in the United States on Thursday, more than 14 million cases, according to Johns Hopkins University statistics. California novel coronavirus pneumonia is increasing by 18 thousand, and nearly 14 people have died in the past 14 days. Within days, California Governor John Newson announced that more than three weeks of home rule would be implemented in the state to curb the rapid spread of the epidemic.

In view of the aggravation of the new outbreak crisis in the coming months, Federal Reserve Chairman Powell once again urged Congress to approve more stimulus support, focusing on the unemployed, small businesses, and state and local governments.

Faanmgs six technology stocks fell collectively. Tesla rose 4.3% as Goldman raised its target price to $780. Several foreign airlines will go around Boeing 737max, and Boeings share price rose 5.96%.

Popular Chinese stocks: the ninth city rose 7.3%, Ctrip rose 6.2%, tiger securities rose 5.5%, Sohu rose 4%, Jingdong and Alibaba rose 2.2%. Among the declining camp, Touniu fell by 5.28%, Leju, douyu and Huya fell by 1.8%, and follow who to learn, huami and interesting headlines fell by 1.5%.

Other markets:

The US dollar spot index fell to a low since April 2018, and the US dollar fell to a multi-year low against major currencies. The euro, Australian dollar, Canadian dollar and South Korean won all hit their highest levels in more than two years this week, while the Swiss Franc hit its highest level since 2015. Chris Turner, foreign exchange strategist at inggroepnv, said vaccine progress enhanced expectations of global synchronous growth in 2021, and the US dollar could fall further by 5-10% next year.

Gold prices rose in the day, thanks to a weaker dollar, and the market is still looking to the United States to reach a consensus on a new crown stimulus plan. Spot gold rose 0.55% to $1841.31 an ounce, earlier hitting its highest level of $1843.80 since November 23, but gave back some of its gains after the United States announced lower than expected initial jobless claims.

International oil prices rose within the day, and representatives of OPEC + reached an agreement to slightly increase production in January next year. WTI crude oil contract rose 36 cents, or 0.8%, to $45.64 a barrel, a nine month high. Brent crude oil contract in recent months rose $0.46, or 0.95%, to $48.71/barrel. European stock markets were mixed. By the end of the day, the Stoxx 600 index was close to flat at 391.72. Britains FTSE 100 index rose 26.88 points, or 0.42%, to 6490.27; Frances CAC40 index closed down 8.65 points, or 0.15%, to 5574.36; Germanys DAX index closed down 60.38 points, or 0.45%, to 13252.86. Although it is only four weeks before the end of the transition period for brexit, there are still uncertainties in the trade agreement negotiations between the UK and the EU. EU officials said within days that there were still significant differences on the most difficult issues in negotiations with the UK.

International oil prices rose within the day, and representatives of OPEC + reached an agreement to slightly increase production in January next year. WTI crude oil contract rose 36 cents, or 0.8%, to $45.64 a barrel, a nine month high. Brent crude oil contract in recent months rose $0.46, or 0.95%, to $48.71/barrel.

European stock markets were mixed. By the end of the day, the Stoxx 600 index was close to flat at 391.72. Britains FTSE 100 index rose 26.88 points, or 0.42%, to 6490.27; Frances CAC40 index closed down 8.65 points, or 0.15%, to 5574.36; Germanys DAX index closed down 60.38 points, or 0.45%, to 13252.86.