[뉴욕증시] Expectations of stimulus, mixed with the sale of technology stocks… Enter the Nasdaq Control Station

[뉴욕=뉴스핌] Correspondent Kim Min-jung = Major indexes in the US New York stock market closed at mixed prices on the 8th (local time). The US Congress was close to dealing with large-scale stimulus packages, but the sale of technology stocks continued.

On the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average rose 306.14 points (0.97%) from the previous trading day to 31,082.44. During the intraday, the Dow Index rose by 650 points and reached an all-time high.

The Standard & Poor’s (S&P) 500 index, centered on large caps, ended at 3821.35, down 20.59 points (0.54%), and the Nasdaq composite index, centered on technology stocks, ended at 12,609.16, down 310.99 points (2.41%). As a result, the Nasdaq index fell more than 10% from the high point recorded on the 12th of last month to enter the closing price correction market.

Technology stocks continued to weaken amid rising government bond yields. The 10-year Treasury bond yield was also close to 1.6% on the same day, reflecting inflation expectations.

Among them, Finance Minister Janet Yellen said he believes that the additional support plan for the new coronavirus infection (Corona 19) worth $1.9 trillion promoted by the Joe Biden administration will not cause inflation.

Even last weekend, in an interview with a broadcaster, Minister Yellen evaluated that what was reflected in the recent increase in government bond yields was not inflation, but expectations for a strong recovery.

New York Stock Exchange (NYSE).[사진=로이터 뉴스핌] 2021.03.09 [email protected]

Some investors, as Secretary Yellen said, have focused on the positive side of the recent treasury bond rate hike.

In a report, JPMorgan’s Dubravco Lacos-Bujas Senior US Equity Strategist said in a report, “We see rising interest rates as the impact of faster-than-expected and strong economic growth, which supports our positive outlook for our stocks.” .

Some investors expect that even technology stocks, which have recently been relatively weak, will join the uptrend once the valuation adjustment is completed.

Morgan Stanley’s senior US equity strategist Mike Wilson said in an interview with CNBC that the bullish outlook remains valid given the recent difference between technology stocks and economic cycles.

“The bull market will continue, and value stocks and economic cycles will lead the way,” said Wilson strategist. “Growth stocks will join the party once valuation and position adjustments are complete.”

There is also a diagnosis that the recent correction has created an opportunity to buy technology stocks. Dan Ives, analyst at Wedbush, said, “Currently, tech investors are’time to wear a seat belt,’ but we believe the recent sell-off gives us a golden opportunity to hold a promising tech stock over the next three to five years.

However, despite the opinions of experts, technology stocks, which are still under the valuation burden, have not strengthened. Apple’s share price ended at $116.36, down 4.17% from the previous day, reaching a three-month low.

Tesla plunged 5.84 percent and Microsoft (MS) fell 1.82 percent.

The US Senate passed an additional Corona 19 stimulus and sent it back to the House of Representatives. House Speaker Nancy Pelosi (Democratic California) is scheduled to process the stimulus bill in the House on the 9th.

The stock price of video retailer GameStop soared 40.64% on the same day. The news that Ryan Cohen, founder of a companion animal company, is leading the online enhancement of GameStop, was a good news for GameStop.

General Electric’s share price rose 3.97% on news of the aircraft rental business and the merger of Ireland’s AirCap.

The share price of AMC Entertainment Holdings has risen 15.47% after the increase in the target price of Weatherbush Securities.

The Chicago Options Exchange (CBOE) Volatility Index (VIX), referred to as the’Wall Street Fear Index’, recorded 26.10, up 6.00% from the previous day.

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