​[뉴욕증시 마감] ‘Stock market overheating, South Asia common mutation corona’ mixed with fear…Nasdaq is also a new store

On the 25th (local time), the major index of the New York Stock Market ended a mixed tax. This is because the confusion over the spread of the mutant Corona 19 virus (501Y.V2) from South Africa has become clear amid continuing market overheating controversy that started with the intellectual “SPAC boom”.

On that day, the Dow Index closed at 3960.36, down 36.62p (0.12%) from the battlefield on the New York Stock Exchange (NYSE). On the other hand, the S&P 500 index rose 13.87p (0.36%) to 3855.34, while the tech stock-oriented NASDAQ index rose 92.93p (0.69%) to 13,635.99.

The stock market showed a marked difference in temperature between technology stocks and non-tech stocks this week ahead of the release of the fourth quarter results of key big tech companies such as Apple, Tesla, and Facebook.

Tech stocks, centered on Apple and Tesla, were strong, and the Nasdaq index marched to break new highs for 5 consecutive trading days, but circular stocks sensitive to the spread of Corona 19 showed a clear decline.

As technology stocks continued to rise again and controversy over the spec boom, which was a bypass listing method that started with a’game stop’, increased, the New York Stock Market overheating theory was rekindled.

GameStop, an offline retailer of video games, which recently became a popular target for short selling on Wall Street, surged 50% last weekend and then rose 50% even before the opening day. After that, it showed tremendous volatility, such as an increase of more than 140% during the intraday, and then turning downward.

The Brickley Advisory Group said, “You will hear what percentage of companies are exceeding earnings expectations every day,” said Peter Buqba, CIO. “But most companies did not provide guidance due to COVID-19.” said.

In fact, even during the intraday, there was a high volatility as organizations and individuals competed over the concerns of overheating.

The Dow index fell by more than 400p (points) during the intraday, while the S&P 500 index and the Nasdaq fell 1.15% and 1.29% respectively.

Individual investors intensively bought certain stocks against short selling such as hedge funds, and hedge funds took a short squeeze to temporarily increase their buying demand to reduce losses, and some stocks soared. In addition, short-term investors also quickly poured out profit-taking sales, leading to a sharper fluctuation in intraday stock prices.

On the other hand, with the cumulative number of corona 19 cases in the world exceeding 100 million, the spread is still not caught, and concerns about the mutant virus originating in South Africa are growing.

As researchers at Imperial College London, UK, announced the possibility of reinfection of the mutant and invalidating the Corona 19 vaccine, fear of aggravating the corona 19 crisis is spreading.

Expectations for rapid vaccine distribution have also subsided. This is due to the continuing news of the cessation of vaccine development as well as the reduction in supply of Pfizer and AstraZeneca.

On the same day, Merck announced that it would stop developing a candidate for the Corona 19 vaccine because the intermediate results of the Phase 1 clinical trial of the Corona 19 vaccine, which had been developed since August last year, were not satisfactory. Following the news of Sanofi’s failure to develop this year last year, it is the second case of a major pharmaceutical company’s failure to develop a vaccine.

As a result, there are relentless criticisms that the market for technology stocks can continue.

Michael Hughson, chief market analyst at CMC Markets, said, “Large tech stocks are recognized as a kind of safety haven, so the movement of funds from circular stocks will continue.” “The restraint may be prolonged, and the current recovery is stagnant or delayed.”

With the first Federal Open Market Committee (FOMC) meeting (26-27) approaching one day ahead this year, economic indicators were also mixed.

The US activity index for December, compiled by the Federal Reserve Bank of Chicago, was 0.52, up from 0.31 of the previous month. It was higher than 0.10, the consensus of economists compiled by the fact set. The activity index of manufacturers under the jurisdiction of the Federal Reserve in Dallas was 7.0 in January, down from 10.5 the previous month.

On the Chicago Options Exchange (CBOE), the volatility index (VIX) was 23.30, up 6.34% from the previous trading day.

‘Variation Corona Fear’ Europe has a clear decline…Oil prices ↑ and gold prices ↓

Major markets in Europe fell all at once due to the possibility of strengthening blockades following the spread of Corona 19.

On this day, the London Stock Exchange’s FTSE100 index closed at 6638.85, down 0.84% ​​from the closing price of the previous trading day. On the same day, the DAX30 index of Germany’s Frankfurt stock market fell 1.66% to 13,643.95, and the French Paris stock market’s CAC40 index also fell 1.57% to 5472.36.

The euro Stoxx50 index, a pan-European index, also closed at 3553.14, down 1.37%.

Weekly magazine Le Journal-du-Di-Manche (JDD) reports that the previous day the government is positively considering a plan to block it again for at least three weeks, and the observation that France will enter into a third blockade soon is weighing on.

British Prime Minister Boris Johnson said on the day that he is considering strengthening self-quarantine regulations for immigrants to prevent the spread of a mutant virus, which is concerned about reducing vaccine efficacy. Italian authorities have confirmed cases of a mutant virus from Brazil in their country, and Sweden has decided to ban entry through Norway due to concerns about the spread of the mutant virus.

International oil prices rose on news of supply cuts in each oil producing country.

In particular, Iraq decided to reduce its oil production in January and February to 3.6 million barrels per day. Earlier, through an agreement, Iraq decided not to meet the limit even though it could produce 3.85 million barrels of crude oil a day, which served as a market advantage.

On the same day, at the New York Commercial Exchange (NYMEX), Western Texas crude oil (WTI) for March delivery closed at 52.77 dollars, up 1% (0.50 dollars) per barrel. The March Brent induction on the London ICE Futures Exchange is trading at $55.84, up 0.8% ($0.43) per barrel at 3:44 pm.

International gold prices were flat. Gold for February deliveries on the New York Merchandise Exchange closed at $1855.20, down 0.1% ($1) per ounce.