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Biden said there is no need to block U.S. stocks to collect high fees, semi-strong bombs over 4% | Anue

The four major U.S. stock indexes rebounded on Monday (29th). Fei Banqiang rebounded by over 4%. US President Biden said that the current plan to combat the Omicron variant virus does not include blockades, helping the market close at levels close to intraday highs. The panic index fell by about 20%, oil prices rebounded, gold prices fell slightly, the dollar rose, and the 10-year U.S. Treasury yield remained above 1.5%.

Large technology stocks such as Apple became the winners. Tesla soared by 5%. Huida and Yingcai led the rise in fees. Twitter closed down due to reports of CEO Jack Dorsey resigning as chief technology officer.

Biden said at the White House press conference, “As long as people are vaccinated, supplemented and wearing masks, there is no need to lock the country,” and said that no new travel restrictions will be imposed at this time. The White House imposed preventive travel restrictions on South Africa last Friday.

Fed Chairman Bauer and Treasury Secretary Yellen will attend the Senate Banking Committee hearing. Based on prepared testimony, Bauer believes that the Omicron variant virus and the recent increase in the number of confirmed cases are threatening the U.S. economy, and the disruption is full of uncertainty. Sexual inflation prospects.

The government shutdown has once again attracted attention. The US Congress must pass a temporary spending bill before midnight on Friday (December 3) to avoid partial shutdowns. At present, the atmosphere in Washington and Wall Street is generally optimistic. According to people familiar with the matter, the Democrats and Republicans seem to be discussing a bill.

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 worldwide has exceeded 261.9 million, and the number of deaths has exceeded 5.205 million. More than 7.942 billion doses of vaccine were vaccinated in 184 countries/regions around the world.

Canada confirmed two cases of the Omicron variant on Monday, and traces of the virus are now spread across five continents: Africa, Asia, Europe, Oceania and North America. Japan announced that it will lock the country on Tuesday, and business travelers and international students who have just reopened will once again call for cards.

Information about Omicron’s infectivity and drug resistance remains to be clarified. The World Health Organization (WHO) said that the characteristics of the virus are still unclear. South African scientists said that although Omicron may be more infectious than other virus strains, it is currently confirmed All of them are mild.

Monday (29th) the performance of the four major US stock indexes:

  • The Dow Jones Industrial Average rose 236.6 points, or 0.68%, to close at 35,135.94 points.
  • The S&P 500 index rose 60.65 points, or 1.32%, to close at 4,655.27 points.
  • The Nasdaq Composite Index rose 291.18 points, or 1.88%, to 15,782.83 points.
  • The Philadelphia Semiconductor Index rose 153.40 points, or 4.08%, to close at 3,911.54 points.
All 11 S&P 500 stocks closed higher, technology stocks soared 2.32%, utilities, communications services, and consumer non-essential stocks all rose more than 1%. (Photo: Finviz)

Focus stocks

The five kings of science and technology all closed higher. Apple (AAPL-US) rose 2.19%; Meta (formerly Facebook) (FB-US) rose 1.47%; Alphabet (GOOGL-US) rose 2.35%; Amazon (AMZN-US) rose 1.63%; Microsoft (MSFT-US) ) Rose 2.11%.

Dow Jones constituent stocks rose more than fell. Salesforce (CRM-US) rose 4.41%; United Health (UNH-US) rose 2.75%; IBM (IBM-US) rose 2.32%; Cisco (CSCO-US) rose 1.99%. Merck (MRK-US) tumbled 5.39%.

Half of Fei’s constituent stocks almost all rose. Kelin (LRCX-US) rose 6.01%; Huida (NVDA-US) rose 5.95%; Teradyne (TER-US) rose 5.53%; Yingcai (AMAT-US) rose 5.53%; AMD (AMD) -US) rose 4.59%.

Taiwan stocks ADR rose strongly. TSMC ADR (TSM-US) rose 1.87%; ASE ADR (ASX-US) rose 2.91%; UMC ADR (UMC-US) rose 2.70%; Chunghwa Telecom ADR (CHT-US) rose 0.90%.

Corporate News

Tesla (TSLA-US) rose 5.09% to $1,136.99 per share. Chief Executive Musk urged employees on Friday to “reduce the cost of delivery” and not to sprint for the end of the season. In addition, it is rumored that Tesla’s first European super factory is close to production, the factory is located in Brandenburg, Germany (Brandenburg).

Tesla soared. Picture: AFP
Tesla soared. Picture: AFP

TWTR-US (TWTR-US) fell 2.74% to $45.78 per share. It is rumored that Dorsey will resign as CEO of Twitter and be replaced by Chief Technology Officer Parag Agrawal. situation.

Vaccine stocks are flying high. Modena (MRNA-US) surged by 9% on Monday after soaring 20% ​​last Friday. Major factories have launched testing and investigations against Omicron. The Medical Director of Modena said that a vaccine against Omicron is expected to be launched early next year.

Merck (Mersk & Co., Ltd.) tumbled 5.39% and was the last place among the constituent stocks of Dow Jones. Citi lowered its rating on its investment recommendations from “buy” to “neutral” on the grounds that the company’s two important drugs have published disappointing data in recent weeks and will hurt long-term profit potential.

Bitcoin stopped falling and stabilized, concept stocks rose sharply, cryptocurrency exchange Coinbase (COIN-US) rose 5.3%, Microstrategy and Silvergate Bank rose 4.9% and 5.8% each.

Wal-Mart (WMT-US) tumbled 1.61% to US$142.63 per share. Chief Financial Officer Brett Biggs plans to step down in early 2023. He has served as the retail giant for more than 20 years.

Economic data

US Dallas Fed November manufacturing index reported 11.8, expected 17.0, previous value 14.6

Wall Street Analysis

Regal investor Bill Ackman said that if Omicron has mild to moderate symptoms as reported in the report, even if the virus is more contagious, it will be bullish rather than bearish for the stock market.

Investors are evaluating the impact of Omicron. ThinkMarkets analyst Parag Agrawal said that the vaccine still looks effective, but it may take several more weeks for the market to learn more about the variant. It is conceivable that stock market volatility will remain high during this period. .

The CBOE Volatility Index (VIX), known as the “panic index,” after a sharp surge of 10 points last Friday, it cooled down by 5.66 points or 19.78% on Monday.

Truist examines examples of VIX’s single-day rise of more than 40% from 1990 to the present, and found that out of 19 times, 18 times the market rose a year later, with an average increase of 20%.

The focus of investors this week is the November non-agricultural employment report, and the market estimates an increase of 581,000 people.

The figures are updated before the deadline, please follow the actual quotation


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