(New York = Yonhap News) Correspondent Kwak Se-yeon of Yonhap Infomax Thanks to this, it has risen significantly.
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On the 11th (US time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average ended at 32,485.59, up 188.57 points (0.58%) from the battlefield.
The Standard & Poor’s (S&P) 500 index rose 40.53 points (1.04%) from the battlefield to 3,939.34, while the technology stock Nasdaq index surged 329.84 points (2.52%) to 13,398.67.
The Dow index continued its high march, and the S&P 500 broke the previous all-time high recorded on February 16th.
The market watched the US unemployment indicators, government bond interest rate trends, and the ECB’s monetary policy decisions.
While US Treasury yields remained stable, strong technology stocks resumed and additional fiscal stimulus measures were signed to support investor sentiment.
The 10-year U.S. Treasury bond yield showed a stable trend at the 1.5% range, which once fell below 1.5% on this day. Following the 10 years of the previous day, the result of a smooth government bond bidding such as 30-year bonds on the day and the moderate US consumer price increase in February led to the stabilization of interest rates.
In addition, the ECB’s actions in response to rising interest rates also helped stabilize interest rates.
The ECB fixed the base rate at the Monetary Policy Meeting on the same day and did not change the total limit of the Pandemic Emergency Purchase Program (PEPP). However, it said that in the second quarter, the speed of purchasing bonds through PEPP would be significantly higher than in the first quarter.
It means that although the total limit for quantitative easing (QE) will be maintained, it will temporarily increase the size of bond purchases in response to the recent increase in government bond yields.
The stock market was also supported by the good US employment-related indicators.
The Ministry of Labor announced last week that the number of unemployment insurance claims fell 42,000 from the previous week to 712,000 (seasonally adjusted).
It was less than the estimated 725,000 people compiled by the Wall Street Journal. It is the lowest since the first week of November of last year, and it is again close to the lowest since the pandemic.
The number of job openings in the United States in January was 6917,000, up from 6752,000 in December last year. As employment-related indicators have improved, expectations for a rapid economic recovery have increased.
US President Joe Biden has signed a $1.9 trillion stimulus package to respond to the novel coronavirus infection (Corona 19). President Biden has advanced the signing schedule one day ahead of the original plan, and is planning to give a public speech in the evening on the first year since the World Health Organization (WHO) declared the Corona 19 pandemic on March 11 last year. The White House explained that starting this weekend, dependent cash will start depositing into accounts.
Growth stocks such as technology stocks, which showed a sharp adjustment in the aftermath of a rise in government bond yields, rose strongly. Tesla rose 4.7%, and Apple, Facebook, Alphabet, and Netflix also rose. In particular, semiconductor stocks surged due to the influence that the China Semiconductor Industry Association (CSIA) announced that it had established a working group, a window to discuss export control and supply chain security issues with US technology companies. Nvidia and Broadcom showed strength around 4% in anticipation of easing trade tensions between the two countries.
On the 8th, the Nasdaq Index fell more than 10% from its recent high and entered the correctional area, but thanks to a strong recovery this week, it has now fallen about 5% from its high. With additional fiscal stimulus and economic resumption, funds have shifted to the business cycle sector, and the energy sector is showing the largest increase this year.
(New York = Yonhap News) Coupang stock listed on the New York Stock Exchange (NYSE) on the 11th (local time) began trading at $63.5. The initial price of $63.5 jumped 81.4% from the offering price of $35.
On this day, executives, including Coupang Chairman Kim Bum-seok (third from left), are ringing the opening bell at the New York Stock Exchange. [쿠팡 제공. 재판매 및 DB 금지] [email protected]
Coupang made a brilliant debut on the New York Stock Exchange. The initial price was formed at $63.50, 81% higher than the offering price, and it ended at $49.
New York stock market experts assessed that a positive market environment has been re-established, such as improved employment.
“The decline in the number of unemployment insurance claims is another win this week,” said Mike Rowengart, director of E-Trade Financial. “It is a solid sign that we are moving into life after the pandemic.”
He added, “The combination of stimulus measures, a moderate consumer price index, expansion of vaccines, and easing of pandemic regulatory measures is drawing a very positive picture.”
According to Fedwatch of the Chicago Merchandise Exchange (CME), the Federal Fund (FF) interest rate futures market reflected the possibility of a 25bp base rate hike in September by 9.8%.
On the Chicago Options Exchange (CBOE), the volatility index (VIX) fell 2.79% from the previous trading day to 21.93.
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2021/03/12 07:26 sent