(New York = Yonhap News) Correspondent Oh Jin-woo of Yonhap Infomax = Major indices in the New York stock market started mixed up after a steady rise on the 9th.
As of 9:49 a.m. (Eastern Time), the Dow Jones 30 Industrial Average on the New York Stock Exchange (NYSE) traded at 31,285.79, down 99.97 points (0.32%) from the battlefield.
The Standard & Poor’s (S&P) 500 index traded at 3,908.53, down 7.06 points (0.18%) from the battlefield, while the technology stock-oriented NASDAQ index traded at 13,998.31, up 10.67 points (0.08%).
The market continues to monitor the progress of US stimulus measures, corporate performance, and the spread of novel coronavirus infection (Corona 19).
The stock market is showing a breathtaking trend, with no additional materials to power the market.
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.
The Democratic Party of the House of Representatives presented a framework for the stimulus bill, including measures such as a $1,400 cash aid and an additional $400 per share of unemployment benefits.
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.
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 was below 100,000 people for two consecutive days.
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.
On this day, after the closing of the market, the results of Cisco and Twitter are scheduled to be announced.
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.
Economic indicators released on this day were sluggish.
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.
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.
Stock markets in major European countries are also weak. The pan-European index Stoxx 600 fell 0.15%.
International oil prices fell. Western Texas crude oil (WTI) prices for March moved 0.83% to $57.49, down 0.83% from the previous trading day, while Brent oil moved 0.53% to $60.24.
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2021/02/09 23:58 sent