[뉴욕증시] Closing of consolidation rights with stimulus measures and interest rate rising

[뉴욕=뉴스핌] Correspondent Kim Min-jung = Major indices in the US New York stock market closed in mixed tax in the consolidation zone on the 19th (local time). Financial cycle stocks showed an uptrend as US Treasury Secretary Janet Yellen emphasized the agreement on additional stimulus measures, but large tech stocks with a valuation burden continued to weaken. Treasury bond yields, which have risen to the highest level in a year, also burdened investment sentiment.

On the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average ended 3,1494.32, up 0.98 points (0.00%) from the previous day. The Standard & Poor’s (S&P) 500 index, which focuses on large caps, fell 7.26 points (0.19%) to 3906.71.

On a weekly basis, the Dow index rose 0.1%, showing an uptrend for the third consecutive week. The S&P 500 index fell 0.7%, showing a downward trend for the first week since February. The Nasdaq Index fell 1.6% for one week and stopped for two consecutive weeks.

Minister Yellen said in an interview with CNBC after the market close the day before that some economic indicators have failed to rebound and that additional stimulus measures are essential. Minister Yellen reiterated that the US economy could reach full employment next year with additional stimulus measures for the novel coronavirus infection (Corona 19) worth $1.9 trillion.

Senate Representative Chuck Schumer (Democratic New York) in a letter to the Senate Democratic Party Caucus revealed that a $1.9 trillion stimulus package would go to former President Joe Biden on March 14, showing his willingness to deal with stimulus.

Jeffreys International’s managing director Mohit Kumar told Bloomberg News that “reflation trades will last for several months or longer.” “Apart from rising yields, all factors, including performance, seem positive for risky assets.” Reflation trade refers to an investment that takes into account economic improvement and inflation (inflation).

Tech shares were weak. Amazon.com fell 2.35%, and Google’s parent company Alphabet also fell 0.81%. Facebook fell 2.91%, Netflix fell 1.46% and Microsoft (MS) fell 1.16%. However, Apple rose 0.12%.

Bank of America (BofA) forecasts that stocks trading at 22x their 12-month earnings expectations will experience a 10% retreat.

Economic indicators were mixed. The February Manufacturing Purchasing Managers Index (PMI) released by IHS Markit fell to 58.5. The cold wave in the US and the global shortage of semiconductors appear to have slowed the manufacturing economy.

The share price of Applied Materials rose 5.32% on the forecast that 2Q sales will exceed market expectations. Under Armor jumped 2.42% after upgrading Oppenheimer’s rating.

The stock price of Palantier, a data analysis company, surged 15.30% on the news that the interest of Reddit investors, who led the recent game stop craze, has increased.

The Chicago Options Exchange (CBOE) Volatility Index (VIX), referred to as the’Wall Street Fear Index’, recorded 21.76, down 3.25% from the previous day.

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