After US Treasury Secretary Janet Yellen reiterated the importance of large-scale stimulus measures, US stocks rose slightly on Friday (19th), with the Dow Jones Industrial Average opening up 73 points or 0.2% and the Nasdaq Index up 0.4% , The S&P 500 index rose 0.3%, chip stocks rose across the board, leading fees rose by 2%. TSMC ADR (TSM-US) Rose 1.6%.
Cyclical stocks began to strengthen, with the industrial, financial and energy sectors of the S&P 500 rising 1%, 0.9% and 0.85% respectively.
Yellen said on Thursday that although the economic recovery is faster than expected, large-scale stimulus measures are still indispensable, 1.9 trillionUSDThe stimulus package may help the United States return to full employment within a year.
As the market focused on the bail-out case, the Speaker of the US House of Representatives, Nancy Pelosi, expressed that he hopes to vote before the end of next week and pass the House’s version of 1.9 trillion.USDBailout bill.
In terms of vaccine news, research from Israel shows that Pfizer (PFE-US) The single-dose vaccine with BioNTech can protect up to 85% against the new coronavirus, providing supportive arguments for delaying the second dose of vaccine.
IHS Markik will soon release the Purchasing Managers Index (PMI) of the US manufacturing and service industries in February.
As of 22:00 on Friday (19th) Taipei time:
- The Dow Jones Index rose 73.04 points, or 0.23%, to 31,566.38 points temporarily
- Nasdaq rose 61.40 points, or 0.44%, to 13926.76 points temporarily
- The S&P 500 Index rose 11.91 points, or 0.30%, temporarily at 3,925.88
- Fees and a half rose by 59.11 points or 1.88% to 3205.90 points temporarily
- TSMC ADR rose 1.57% to 136.74 per share USD
- The 10-year U.S. Treasury yield rose to 1.328%
- New York Light Crude Oil fell 0.97% to 59.93 per barrel USD
- Brent crude oil fell 0.66% to 63.51 per barrel USD
- Gold rose 0.38% to 1,781.70 per ounce USD
- USDThe index fell 0.34% to 90.29 points
Focus stocks:
Uber(UBER-US) Fell 0.59% in early trading to 58.65 USD。
The Supreme Court of the United Kingdom rejected Uber’s appeal on Friday, ruling that Uber must treat its own drivers as employees and are entitled to minimum wages, paid vacation and other employee rights. The UK is Uber’s largest market in Europe, and this ruling may significantly affect the UK’s gig economy.
Applied Materials (AMAT-US) Rose 7.05% in early trading to 121.43 USD。
Yingcai announced on Thursday that its first fiscal quarter revenue increased 24% annually to 5.16 billionUSD, EPS reported 1.39 USD, Both are better than market expectations.Yingcai expects revenue for the second fiscal quarter to be between 5.19 billionUSDTo 5.59 billionUSD, EPS is between 1.44 USDTo 1.56 USD, Which is also better than analyst expectations.
Novavax(NVAX-US) Rose 10.07% in early trading to 292.00 USD。
Novavax announced that it has reached a vaccine supply agreement with the Global Alliance for Vaccines and Immunization (GAVI), which will provide 1.1 billion doses of experimental new crown vaccine. GAVI is currently cooperating with international organizations such as WHO and the Alliance for Epidemic Prevention and Innovation (CEPI) to distribute the new crown vaccine fairly to various countries through the COVAX plan.
Daily key economic data:
- At 22:45, Taipei time, the initial value of the US Markit manufacturing PMI for February will be announced, which is expected to be 58.5 and the previous value is 59.2
- At 22:45, Taipei time, the initial value of the US Markit service industry PMI for February will be announced, which is expected to be 58.0 and the previous value is 58.3
- At 22:45, Taipei time, the initial value of Markit comprehensive PMI for the United States in February will be announced, the previous value was 58.7
- At 23:00, Taipei time, the annualized total sales of existing homes in the United States in January will be announced, which is expected to be 6.560 million, and the previous value was 6.760 million.
- At 23:00 Taipei time, the annualized monthly growth rate of existing home sales in the United States in January will be announced, which is expected to be -3.0%, and the previous value is 0.7%
Wall Street analysis:
Mohit Kumar, general manager of Jefferies International, said that the re-inflation market will continue to be data, even longer. In addition to rising yields and bond positions, factors including corporate profits are all optimistic, which is good for risky assets.
Arthur van Slooten, global asset allocation strategist at Société Générale, said that investors are taking a breather, and once they see the start of re-inflation, the market’s excellent performance in recent weeks will continue.
However, Oanda market analyst Edward Moya believes that some traders are concerned about the rebound in global bond yields. Although the Federal Reserve has reiterated its ultra-loose monetary policy stance, the Biden administration has also promised to increase fiscal stimulus. If the yield continues to rise, it may establish a basis for US stocks correction.
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