New York Stock Exchange on Wall Street in Manhattan, New York. New York = correspondent Cho Jae-gil
In the New York Stock Market, the leading index fell after a volatility market, watching whether the US stimulus package increased.
On the 29th (hereafter Eastern time), the Dow Jones 30 Industrial Average on the New York Stock Exchange (NYSE) closed at 30,335.67, down 68.30 points (0.22%) from the battlefield.
The Standard & Poor’s (S&P) 500 index closed at 3,727.04, down 8.32 points (0.22%) from the battlefield, while the technology stock-oriented NASDAQ index closed at 12,850.22, down 49.20 points (0.38%).
The three indexes all hit all-time highs at the beginning of the market, but declined afterwards due to increased level burden.
The market watched the increase in US stimulus measures and the spread of the novel coronavirus infection (Corona 19).
A sense of relief was formed when U.S. President Donald Trump signed an approximately $900 billion stimulus to the Corona 19 response.
It is expected to relieve to some extent the impact of the economy caused by the re-proliferation of Corona 19 in winter.
Investors are looking to see if the scale of the stimulus package could be larger.
The House of Representatives passed a bill that would increase the amount of cash payments to Americans in stimulus from $600 per person to $2,000.
The Democrat-led House of Representatives responded to President Trump’s call to increase cash payments.
It is unclear whether the bill will pass the Republican-led Senate.
Republicans are said to be largely negative about the increase in cash payments.
Republican Senate Mitch McConnell rejected a proposal from Democratic Senate Chuck Schumer to expedite the approval process of the increase in cash payments bill.
However, some lawmakers, including two Georgian senators who are voting for the runoffs, argued to approve the $2,000 payment bill.
President Trump also tweeted again that he must approve the $2,000 cash payment plan after McConal rejected Schumer’s proposal.
Investors expect that if the cash payment increase plan is passed, it will be a kind of’bonus’ in the stock market.
The news of McConal’s refusal of the Democratic Party’s expedited offer, the leading index was at one point in the middle of the week.
The fact that the uncertainty factors in the global financial market at the end of the year have been reduced, such as the conclusion of future relations negotiations such as trade agreements between the UK and the European Union (EU), is a factor supporting investment sentiment.
It is also a positive variable that the news that the Corona 19 vaccine jointly developed by AstraZeneca and Oxford University could be approved in the UK soon.
However, it was also argued that the European Union would be difficult to approve the vaccine in January.
The current situation of Corona 19 is still a burdensome factor, with mutant viruses spreading in the UK being confirmed in countries around the world.
The spread of the mutant virus has further strengthened measures to restrict movement by each country.
In the U.S., the average number of corona 19 confirmed cases per day for the past week is 184,000, and it is still marching high.
The number of hospitalized patients due to Corona 19 exceeds 120,000, recording a daily high.
By stock on that day, Intel’s stock price soared more than 4.9%.
The fact that the hedge fund Third Point sent a letter urging Intel to come up with a strategic alternative triggered a share price hike.
By industry, industrial stocks fell 0.67% and technology stocks fell 0.52%.
The US economic indicators released today were good.
According to S&P Core Logic Case-Sealer, the US housing price index in October rose 1.4% from the previous month.
Compared to the previous year, it rose 8.4%.
The rate of increase compared to the previous year was the highest since March 2014.
New York stock market experts assessed that positive investment sentiment was maintained despite the worsening Corona 19 situation.
Robeko’s CEO Xeron Blockland multi-asset said, “The containment measures, the spread of Corona 19, and the mutant virus are appearing in a complex manner,” he said. “However, investors are still focusing on positive news.”
On the Chicago Options Exchange (CBOE), the volatility index (VIX) recorded 23.08, up 6.36% from the previous trading day.
/yunhap news