(New York = Yonhap News) Correspondent Oh Jin-woo of Yonhap Infomax = Major indices in the New York stock market ended in a mixed trend amid a breathtaking market due to the recent steady rise.
On the 9th (US time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average closed at 31,375.83, down 9.93 points (0.03%) from the battlefield.
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The Standard & Poor’s (S&P) 500 index closed at 3,911.23, down 4.36 points (0.11%) from the battlefield, but the technology stock-oriented NASDAQ index closed at 14,007.70, up 20.06 points (0.14%).
For the first time in history, the NASDAQ crossed the 14,000 mark, continuing a new record.
The market watched the progress of US stimulus measures, corporate performance, and the spread of the novel coronavirus infection (Corona 19).
Amidst the lack of additional materials that could power the market, it showed a breathtaking pattern.
The stock index has risen steadily recently, with the Dow index rising for six consecutive trading days until the previous day. All three indexes marched to record highs.
The expectation that US President Joe Biden’s $1.99 trillion stimulus package will revive the economy has given warmth to the equity and asset markets as a whole.
The Democratic Party passed a budget resolution in the House and Senate last week, paving the way for stimulus measures to be introduced without the cooperation of the Republican Party.
Democrats in the House of Representatives presented a framework for the stimulus bill, including cash payments of $1,400 to Americans, an additional $400 per share of unemployment benefits, and airline assistance.
Expectations that a massive stimulus package is imminent are growing.
Goldman Sachs predicted that the scale of the stimulus to be finally introduced would be $1.5 trillion, more than the original $1.1 trillion.
President Biden and Finance Minister Janet Yellen met with executives of major companies such as JPMorgan Chase and Wal-Mart to discuss stimulus measures.
The calming down of the Corona 19 situation in the US is also a factor supporting investment sentiment.
According to the statistics of Johns Hopkins University, about 86,000 new cases were recorded in the United States on the previous day. It stayed below 100,000 people for two days in a row.
Companies’ fourth quarter results are also positive.
According to the factset, 81% of the approximately 300 S&P500 companies that disclosed their earnings recorded net profits that exceeded market expectations.
However, there are many concerns over overheating as the stock index has risen sharply, including hitting record highs every day.
Although it has not yet acted as an unsettling material, some point out that a steeper hike in the US Treasury bond could have a negative impact on the stock market.
Meanwhile, the Senate’s judgment on impeachment of former President Donald Trump began today. The analysis is superior that it will not have much effect on the financial market.
On this day, the stock price of GameStop fell by more than 16% and fell to around $50 per share.
By industry, energy fell 1.52%, and technology stocks fell 0.19%. Communication rose 0.21%.
The economic indicators released on that day were mixed.
The National Self-Employment Federation (NFIB) announced that the small business optimism index for January fell to 95.0 from 95.9 last month. It was below 96.5 degrees, experts surveyed by the Wall Street Journal.
On the other hand, according to the Ministry of Labor, the number of recruitment announcements in December was 6646,000, an increase from 6572,000 in November last year.
New York stock market experts pointed out that although the bull market trend is in effect, you should also be wary of risk factors.
“There are two risk factors,” said Trevor Grissom, CEO of Multi-Asset, Royal London Asset Management, “there is a large-scale reflation deal, and the stock is benefiting from the spread of vaccines and the prospect of $1.9 trillion in stimulus.” said.
He cited the risk of a new mutant virus delaying economic resumption and the possibility that inflation could significantly boost US Treasury yields.
On the Chicago Options Exchange (CBOE), the volatility index (VIX) recorded 21.63, up 1.84% from the previous trading day.
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2021/02/10 06:37 sent