[뉴욕증시] Confusion amid fears of rising US Treasury yields… Dow 0.20%↑

[뉴욕=뉴스핌] Correspondent Kim Min-jung = Major indices in the US New York stock market closed at mixed prices on the 16th (local time). Although expectations for additional stimulus measures for the new coronavirus infection (Corona 19) and a decrease in confirmed cases were still there, investors were wary as government bond yields surged due to inflation (inflation) expectations. The cold wave that hit the US supported energy-related stocks.

On the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average closed at 3,1522.75, up 64.35 points (0.20%) from the previous trading day. On the other hand, the Standard & Poor’s (S&P) 500 index, centered on large-cap stocks, fell 2.24 points (0.06%) to 3932.59, and the Nasdaq composite index, centered on technology stocks, fell 47.97 points (0.34%) to 10,4047.50.

Investors bought cyclical stocks, expressing their expectations for the Corona 19 stimulus package. As the impeachment proceedings against former U.S. President Donald Trump concluded last weekend, the market expects Joe Biden’s administration and Congress to speed up the covid-19 stimulus.

New York Stock Exchange [사진=로이터 뉴스핌]

Marshall Gittler, an analyst at BD Switzerland, told investment media Barrance, “A global stock indices move to a new record with optimism over vaccination and the possibility of passing the US$1.9 trillion stimulus, risk-on.” on) The mood continues,” he explained.

Thomas Hayes, CEO of Hedge Fund Great Hill Capital, told Reuters that “Even if the market moves sideways or rises gently, we will see companies that lag behind last year’s rally actually rally under the water.”

“The fiscal stimulus package is likely to be large,” said Shima Sha, chief strategist of Principal Global Advisor, told the Wall Street Journal (WSJ) that “this has strengthened everyone’s expectations.”

Energy-related stocks were strong as oil prices rose to their highest level in more than a year. The fact that natural gas prices soared due to the cold wave in the US mainland also drew attention from investors.

Economic indicators supported the stock price. The Empire State Index, which shows the manufacturing industry in New York, was 12.1 this month, the highest since last September.

However, the rapid rise in government bond yields in recent years is a burden to the stock market. The international benchmark 10-year Treasury bond rate rose to 1.29% on the day, touching 1.30%, and the 30-year bond rose to 2.096%.

“High returns are bank-friendly, but it hurts industries like REIT’s, utilities and commodities,” National Securities’ Art Hogan chief market strategist told CNBC. It can be digested, but if it was rising vertically, it is not.”

The share price of Palantier, a data analysis company that revealed a deficit in the fourth quarter, plunged 12.77% on that day, and Modena’s share price, which said it will supply 300 million doses of Corona 19 vaccines by the end of July, fell 2.84%.

Although earnings improved due to the Corona 19 test, the stock price of CVS Health ended down 5.00%.

Twitter’s share price has continued to rise for 11 consecutive trading days, breaking the high of the closing price for the first time since December 2013.

The Chicago Options Exchange (CBOE) Volatility Index (VIX), referred to as the’Wall Street Fear Index’, was 21.52, up 7.76% from the previous day.

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