(New York = Yonhap News) Correspondent Kwak Se-yeon, Yonhap Infomax Correspondent = In the New York Stock Exchange, the leading index rose at the same time due to the influence of US President Donald Trump’s signing of a new coronavirus infection (Corona 19) fiscal stimulus.
As of the 28th (hereafter Eastern time), the Dow Jones 30 Industrial Average on the New York Stock Exchange (NYSE) ended at 30,403.97, up 204.10 points (0.68%) from the battlefield.
The Standard & Poor’s (S&P) 500 index increased 32.30 points (0.87%) from the battlefield to 3,735.36, and the technology stock-oriented NASDAQ index increased 94.69 points (0.74%) to 12,899.42.
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All three indices broke record highs in both the intraday and closing prices.
As the market’s long-awaited stimulus to respond to Corona 19 was finally concluded, risk investment sentiment was maintained, and the stock market started on an uptrend in the last week of 2020.
US President Trump signed a budget of $2.3 trillion (2,520 trillion won), including the federal government budget and fiscal stimulus measures for next fiscal year. The budget consisted of a $900 billion COVID-19 fiscal stimulus package and a $1.4 trillion in fiscal year 2021 (October 1, 2020-September 30, 2021) federal budget.
Concerns that a partial shutdown (temporary interruption of business) could take place on the 29th, after President Trump signed the budget bill, was resolved from the 29th, after the temporary budget required for federal government operations was exhausted.
A stimulus plan that was unclear until late last weekend, such as the exercise of vetoes, was also implemented, enabling households and small businesses to be supported. The economy was sighing until the corona19 vaccine was widely distributed and states resumed the economy.
Travel and aviation stocks, which have been hit hardest by the pandemic, have been rising.
Some large technology stocks were also strong, with Apple rising 3.6% and Amazon and Facebook also showing strong 3%. Disney also rose by 3%.
The European Union (EU) has also entered the vaccination stage, which supported investor sentiment. Following the UK and the US, vaccination has started in earnest, targeting 450 million people living in EU member states in Europe. The EU and the UK concluded negotiations on future relations, including a trade agreement just before Christmas, alleviating the uncertainty of the no-deal Brexit.
Financial markets, including the stock market this week, are expected to show a relatively quiet trend. Major economic indicators are also not scheduled until the 30th, and January 1st will be closed for the New Year.
Despite the economic shock caused by Corona 19, the S&P 500 had a strong year this year, with the S&P 500 rising 15.6%, the Dow’s 6.5%, and the Nasdaq’s 43.8%. As market participants at the end of the year and the New Year are away, the movement to realize profits amid slack trading can also be intense.
New York stock market experts diagnosed that the last puzzle, the fiscal stimulus package, was passed and the favorable conditions for the year-end stock market continued.
Hani Redha, multi-asset portfolio manager at Finebridge Investments, said, “Suddenly confirmed stimulus measures are an important support for an economically difficult winter. “I have.”
Terry Sanden, senior equity strategist at US Bank Wealth Management, said, “The stock price is expected to close the year at its peak, and there is good reason.” “There are additional government stimulus measures that are a measure of economic safety, and the medical progress of Corona 19 continues to evolve and , The macroeconomic environment is favorable for stocks.”
On the Chicago Options Exchange (CBOE), the volatility index (VIX) recorded 21.60, up 0.33% from the previous trading day.
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2020/12/29 06:31 sent