[3분증시] The New York stock market is generally down … China Corona Warning
This is the ‘3 minute stock market’, time to look at the world stock market and our stock market.
Yonhap Infomax Reporter Jeong Yoon-gyo is with me.
Hello. Shall we start with the US stock market last night?
Yes, the New York stock market was generally bearish last night as we watched the situation in China with Corona 19.
Looking at the close, the Dow rose 0.01% from the battleground, while the S&P 500 index fell 0.16% from the battleground.
The Nasdaq index also closed with a decrease of 0.59% from the previous day.
Yesterday, in the Asian market, the Hong Kong stock market rebounded greatly on the expectations of China’s quarantine easing, and the risk preference sentiment revived somewhat, but it was not enough to raise the stock price of the New York stock market.
Chinese quarantine authorities announced they would expand vaccinations for the elderly, but the expected quarantine mitigation measures did not materialize.
Wall Street experts were concerned that slowing Chinese demand and global supply chain problems could resurface.
Meanwhile, despite the general bear market, Chinese technology stocks listed in New York rose together due to the surge in the Hong Kong stock market.
Shares of Alibaba and Jingdong.com rose more than 5% and 6%, respectively.
Fed Chairman Jerome Powell’s speech also comes up a day later.
Investors are increasingly interested in what comes out.
Federal Reserve Chairman Jerome Powell is scheduled to speak on the labor market and economic outlook on the 30th local time at the Hutchins Center for Finance and Monetary Policy at the Brookings Institution, a think tank.
Chairman Powell is likely to increase his hawkish stance once again and put pressure on the market.
Earlier, as Fed officials repeatedly made hawkish comments, the market developed resistance to the Fed’s hard line, but Chairman Powell’s speech is expected to have a different effect.
There are also concerns that it could have the same effect as the Jackson Hole speech in August.
A sense of caution surrounding Chairman Powell’s speech led to selling of government bonds in the bond market as well.
As of 3:00 pm local time, the 10-year Treasury yield rose to 3.745% during the midday period, and the 2-year and 30-year yields also rose.
How were sales on ‘Cyber Monday’, America’s biggest online shopping event?
On Cyber Monday, Americans spend the most money ever.
It can be said that the strong spending power of Americans despite the evils of China’s corona and the Fed’s austerity warning is news like sweet rain for the market.
According to Adobe, e-commerce sales on Cyber Monday were counted at $ 11.3 billion, recording the highest ever for a single day of online sales.
Previously, Black Friday online sales also hit a record high of $9.12 billion.
For the five days from Thanksgiving to Cyber Monday, there are an estimated $196.7 billion in online and offline sales.
It is analyzed that companies suffering from overstocking have opened their minds to consumers by selling products at deep discounts.
Finally, note today’s KOSPI outlook.
Yesterday, it rose in sync with the strength of the Chinese stock market in anticipation of the Chinese authorities easing quarantine standards, but it is noted that expectations for easing China’s quarantine standards may be premature.
Here, investors are expected to show a cautious atmosphere as Chairman Powell’s speech appears cautious.
So far, I have been with reporter Jung Yun-gyo from Yonhap Infomax on the stock market 3 minutes.
Stock market #3 minutes #New York Stock Market #Dow Index