HoonSmart.com >> The Dow Jones Industrial Average on February 19, ’16 closed at 31,494.32 points, 0.98 points or + 0.0031%, weakening from the morning’s rise. Investors are concerned that interest rates are likely to rise. And there is a profit in big tech companies. But switched to investing in cyclical stocks that would benefit from economic expansion This will be driven by long-held demand if the epidemic is reduced. Prices of crude oil, WTI and Brent drop.
The S & P500 closed at 3,906.71 points, down 7.26 points or -0.19%.
The Nasdaq closed at 13,874.46 points, up 9.11, or + 0.07 percent.
The DJIA index reached the highest level of the day. After Dear Company raised its earnings forecast this year And reported a doubling of profit in the first quarter Due to the increasing demand for farming and construction machines
Some investors worried about the outlook for interest rates and inflation. 10-year bond yield increased to 1.34%
Bank of America expects The stock market will drop more than 10% as it is trading at 22 times more than the highest PE since the dot-com bubble era of the late 1990s.
Cycle stocks that will benefit from the economic upturn, leading the market Materials, energy and industries rose 1.8%, 1.7%, 1.6%, respectively, after Finance Minister Janet Yellen told CNBC that it still needed a stimulus package. Although some economic data reflects the recovery. And the $ 1.9 trillion measure will return to full employment within a year and the effect of the measure will outweigh the cost of taking the measure over the long term. It is also not very concerned about inflation, as it has been at the level for over a decade. It’s a risk, but the central bank has tools to take care of it.
House Speaker Nancy Pelosi said: Will try to push for measures before the end of this month
IHS Markit said that the purchasing managers’ index (PMI) of February’s gross manufacturing and service sectors rose to 58.8, the highest in 71 months.
The National Real Estate Brokerage Association (NAR) said January second-hand home sales rose 0.6% to 6.69 million units, as analysts expected a 1.5% drop to 6.61 million units.
Most European stocks rose on the back of listed companies’ performance and economic data. And from the comments of US Treasury Secretary Janet Yellen that stimulus measures are still needed.
The online G-7 country group conference kicked off yesterday, where it is expected to shorten the vaccine development time to 100 days.
Meanwhile, in Germany, the AstraZeneca vaccine was announced to be highly effective, with few side effects and a short duration.
IHS Marki said that the Eurozone Preliminary Purchasing Managers’ Index (PMI) for February rose to 48.1, the highest in two months from 47.8 in January.
Germany’s Total Purchasing Managers Index (PMI) rose to 51.3 from 50.8.
The Stoxx 600 index closed at 414.88 points, up 2.18 points, + 0.53%.
The FTSE 100 index closed at 6,624.02 points, up 6.87 points, + 0.10%.
The CAC 40 index closed at 5,773.55 points, up 45.22 points, + 0.79%.
The DAX index closed at 13,993.23 points, up 106.30 points, + 0.77%.
WTI crude for March delivery fell $ 1.28, or 2.1 percent, to close at $ 59.24 a barrel. North Sea Brent crude for April delivery fell $ 1.02, or 0.6 percent, to $ 62.91 a barrel.
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