The market’s concerns about the Omicron variant virus have been suspended. The four major U.S. stock indexes surged for two consecutive days on Tuesday (7th). Led by technology stocks and chip stocks, the Dow Jones surged 490 points. S&P and Nasdaq recovered the Fed. Fed) Chairman Bauer has lost 5% of all the lost ground after the Eagle’s turnover last year. The panic index fell, oil prices continued to rebound and rose by 3%, the US dollar fell, and Bitcoin rebounded.
As the market digested the optimistic view of White House Chief Medical Adviser Anthony Fauci, Bloomberg reported late Tuesday that the South African African Health Research Institute (AHRI) announced the first data on the effectiveness of existing vaccines on Omicron, showing Omicron’s immune escape ability. “Powerful but not complete”, Pfizer’s BNT’s existing vaccines can provide partial protection, encouraging the administration of additional doses for additional protection.
In addition, the British pharmaceutical company GlaxoSmithKline (GSK-US) quoted the latest preclinical test results on the same day and stated that the monoclonal antibody drug sotrovimab jointly developed with Vir Biotechnology (VIR-US) can effectively resist the Omicron mutant strain.
In the political and economic news, the U.S. Senate Republican leader Mitch McConnell and Senate Majority Leader Chuck Schumer reached an agreement, agreeing to raise the debt ceiling. The Democrats alone will support the increase in the debt limit. The Republican Party Will not obstruct the review process. This bill has been sent to the House of Representatives for a vote to initiate subsequent legislative procedures and resolve the crisis of US debt default.
The market continues to pay attention to the policy trends of the Federal Standards Committee (Fed). It is currently expected that the Fed may double the reduction in debt purchases to US$30 billion a month at the monetary policy meeting next week.
The video summit between US President Biden and Russian President Putin came on stage. The two were deadlocked for two hours because of the Ukraine issue. Biden clearly warned Putin that if he invades Ukraine, the United States and Europe will join forces to sacrifice a “strong” economy and various punitive measures.
The new crown pneumonia (COVID-19) global epidemic continues to spread. Before the deadline, data from Johns Hopkins University in the United States showed that the number of confirmed cases globally has exceeded 266.9 million, and the number of deaths has exceeded 5.268 million. More than 8.246 billion doses of vaccine have been vaccinated in 184 countries/regions around the world.
The US Centers for Disease Control and Prevention (CDC) stated that the Omicron variant virus has spread to more than 50 countries around the world, and there have been confirmed cases in 19 states in the United States.
Tuesday (7th) the performance of the four major US stock indexes:
- The Dow Jones Industrial Average rose 492.40 points, or 1.40%, to close at 35,719.43 points.
- The S&P 500 index rose 95.08 points, or 2.07%, to close at 4,686.75 points.
- The Nasdaq Composite Index rose 461.76 points, or 3.03%, to close at 15,686.92 points.
- The Philadelphia Semiconductor Index rose 188.68 points, or 4.97%, to close at 3,988.75 points.
Focus stocks
The five kings of science and technology all closed higher. Apple (AAPL-US) rose 3.54%; Meta (formerly Facebook) (FB-US) rose 1.55%; Alphabet (GOOGL-US) rose 2.87%; Amazon (AMZN-US) rose 2.80%; Microsoft (MSFT- US) rose 2.68%.
Joan’s constituent stocks rose more than fell. American Express (AXP-US) rose 3.9%; Salesforce (CRM-US) rose 3.18%; Goldman Sachs rose 2.78%; VISA (V-US) rose 2.31%. Merck (MRK-US) fell 1.55%.
Half of Fei’s constituent stocks almost all rose. Huida (NVDA-US) rose 7.96%; Marvell (MRVL-US) rose 7.12%; ASML-US rose 6.56%; Wolfspeed (formerly Cree) (WOLF-US) rose 6.53%; NXP ( NXPI-US) rose 6.52%.
Taiwan stocks ADR closed higher. TSMC ADR (TSM-US) surged 2.67%; ASE ADR (ASX-US) surged 5.88%; UMC ADR (UMC-US) surged 4.15%; Chunghwa Telecom ADR (CHT-US) fell 0.12%.
Corporate News
Intel (INTC-US) rose 3.10% to $52.57 per share. The company announced that its self-driving car unit Mobileye is scheduled to go public around mid-2022, and its valuation is expected to exceed US$50 billion. Chief Executive Pat Gelsinger said that part of the proceeds will be used to build a chip factory to catch up with TSMC’s attempts. It goes without saying.
Chip stocks generally rose. Huida (NVDA-US), which entered the correction field earlier this month, soared 7.96%, making it the largest gainer at half a fee. AMD-US also rebounded 4.16%.
Apple (AAPL-US) rose 3.54% to US$171.18 per share. Morgan Stanley is optimistic about the potential of Apple’s virtual reality (VR) and potential new products for self-driving cars, and raised its target price to US$200 per share.
Tesla (TSLA-US) rose 4.24% to $1051.75 per share, ending four consecutive losses and breaking out of the bear market. Tesla reported that it is replacing some of the relay camera lenses of its electric vehicles, but the stock price has not been affected. UBS analysts set a target price of $1,000 per share and believe that no one can match it by 2022.
The share price of the pharmaceutical company that announced the anti-Omicron variant virus therapy news rose, the British company GlaxoSmithKline ADR (GSK-US) rose 1.48%, its partner, the American biotechnology company VIR (VIR-US) jumped 11.96%, Pfizer ( PFE-US) oscillated and closed up 0.52%, and BNT (BNTX-US) jumped 8.17%. In addition, Modena (MRNA-US) also rebounded deeply, rising 6.41%.
American Airlines (AAL-US) opened higher and lowered, down 0.22% to US$17.89 per share. American Airlines CEO Doug Parker will end his 20-year tenure and resign next year. President Robert Isom will take over, but Parker will continue to serve as chairman of the board.
Economic data
US October trade balance report-67.1 billion U.S. dollars, expected-66.7 billion U.S. dollars, previous value-81.4 billion U.S. dollars
Wall Street Analysis
Both the S&P 500 and Nasdaq have regained the loss of Fed Chairman Ball after turning to the Eagles. The Nasdaq has risen nearly 4% this week. The Chicago Option Exchange (CBOE) Volatility Index (VIX), known as the “panic index”, has fallen from a 10-month high last week, to 21.89 points on Tuesday, down 5 points or 19.46%.
Kim Forrest, Chief Investment Officer of Bokeh Capital Partners, said: “The market understands that the zero interest rate environment will not last forever, and the Fed will raise interest rates in a prudent way and will not increase it drastically. This kind of reflection is driving the market, which was previously sold off. Now they are receiving buying orders, especially stocks with high price-to-earnings ratios.”
The figures are updated before the deadline, please follow the actual quotation
