Yes, witnessing history again.
This year, we have witnessed US stocks plunging several times, but US stocks still hit new highs! Just last night, the Dow Jones index broke through the 30,000 points mental threshold and reached a record high.
"Wall Street Journal " said that this is the latest milestone in the stock market's recovery since the Dow Jones Industrial Average fell below 19,000 points at the beginning of the epidemic, and it also reflects that the uncertainty of the US election is weakening.
US stock Dow Jones Index broke through 30,000 points for the first time
set a record high
US Dow Jones Industrial Average Index rose above the 30,000 point mark for the first time in history. Due to the longing for the new crown vaccine and the economy continues to move towards normalization, the enthusiasm of the stock market has been ignited again.
It has been almost four years since the index broke through 20,000 points for the first time. For technical analysts, breaking through such a large integer mark is seen as a potential driving force for market sentiment and is conducive to bulls chasing the rise.
As of the close, the Dow Jones Industrial Average rose 1.54% to 30,046.24 points, breaking through the 30,000 point mark for the first time in history. S&P 500 rose 1.62% to 3635.41 points, while the Nasdaq rose 1.31% to 12036.79 points.
The Dow Jones Industrial Average was founded in 1896 and consists of 30 large-cap blue-chip stocks in the US stock market. It was once long regarded as a barometer of the US economy. The index broke through the 20,000-point integer mark for the first time in January 2017, and hit a previous historical high of 29,964.29 points in the trading session on the 16th of this month.
In addition, safe-haven assets gold plunged again. Tuesday
International oil prices rose collectively on Tuesday,
Financial and energy stocks led the rise
Chinese stocks performance differentiated
111m2 US stocks tweaked
11Nov 24, large-scale technology stocks in the US stocks rose collectively,
US stocks energy stocks rose collectively,
US stocks bank stocks rose collectively,
US stocks bank stocks rose collectively,
Tuesday, popular Chinese stocks rose and fell mixed, why did
break through 30,000 points?
market analysis is related to the following factors.
1, , White House handover officially began
On Monday, the U.S. General Services Administration (GSA) had notified Biden that , Trump , the administration is preparing to officially start the transition process of US presidential power. This news was obtained by CNN from a letter sent by Emily Murphy, Director of the General Services Administration, on the afternoon of the 23rd. The uncertainty of the US election has been basically eliminated, and Wall Street expects the Biden administration's multilateralism to benefit the market. The move will officially begin the transition process, allowing current executive officers to coordinate with the incoming Biden team, and the U.S. General Services Agency will provide millions of dollars in government funding for the transition.
Murphy said the White House did not put pressure on her to postpone the transition process of power, nor did she make a decision "out of fear or partiality." She wrote in the letter: "Please note that I made relevant decisions independently based on the law and existing facts. I have never been directly or indirectly pressured by any executive officer (including those working in the White House or the GSA) to determine what or the timing of my decision. Obviously, I have not received any instructions to delay the decision."
Murphy also wrote in the letter: "GSA cannot determine the outcome of relevant legal disputes and recounts, nor can it determine whether such lawsuits are justified. These are the constitution, federal law, And state law leaves issues decided by courts with appropriate jurisdiction, and I do not think that agencies responsible for improving federal procurement and property management should put themselves above the constitution. I strongly urge Congress to consider amending the law. "
Trump posted on tweet that he thanked Emily Murphy for her firm dedication to the country and said she was harassed, threatened and abused, and he did not want to see this happen to Murphy, her family, and GSA personnel. Trump also said: "Our lawsuit continues and we will continue to work tirelessly. I believe we will win! But, for the best interest of our country, I suggest Emily and her team do some work on the initial agreement and tell my team to do the same.”
2, Yellen will be nominated for the Treasury Secretary
The Wall Street Journal quoted people familiar with the matter on Monday as saying that the US President-elect Joe Biden plans to nominate former Federal Reserve Chairman Janet Yellen as Treasury Secretary to lead the U.S. economic recovery after the impact of the new crown epidemic.
If the nomination is confirmed by the Senate, Yellen will become the first woman in the United States to hold this position and will also be the first White House economic adviser to lead the Treasury Department, the Federal Reserve and the White House Ask the person on the committee .
After the news of Yellen being nominated as Treasury Secretary spread, Wall Street was in an instant. The title from CNBC used a word called cheer.
Judging from the resume, Yellen, now 74, is indeed very qualified to serve as Treasury Secretary. Yellen once taught at UC Berkeley, and went to Washington as a Fed in 1994. The then central bank chairman was Greenspan ; three years later, she left Open the Federal Reserve and serve as the chairman of the Economic Advisory Committee of the Clinton administration.
This former Fed chairman who never shys away from economic stimulus measures will be in charge of the economic policies of the Biden administration.
Since 2004, Yellen has served as the chairman of the San Francisco Fed, serving for six years. In 2010, she returned to Washington and became the second-in-commander of the Federal Reserve under the leadership of Bernanke . From 2014 to 2018, Yellen succeeded Bernanke and became the chairman of the Federal Reserve.
can be seen that in Obama During his tenure as US President, Yellen was the helm or second-in-command of the Federal Reserve. This close relationship between Yellen and the Obama-Biden administration also made him the first choice for the Treasury Secretary.
Inside the Federal Reserve believes that Yellen has an extraordinary sense of the economic outlook. She is one of the people who prompted the Federal Reserve to respond more positively to the bursting of the housing market bubble after 2008.
Yellen has always expressed support for more fiscal stimulus measures, especially aid to state and local governments. On September 28, Yellen publicly stated, "Many people are struggling in difficulties and the economy needs fiscal spending." "At a forum in November, Yellen reiterated that it is crucial for Congress to provide further assistance to the U.S. economic recovery. Because the Fed has limited monetary tools left after lowering interest rates to near zero. Tom Graff, head of fixed income at Brown Advisory, pointed out, "Yellen should vigorously promote radical fiscal policy, and given her reputation in Washington, she will be the most effective fiscal expansion policy advocate Biden can find. "
Moreover, Yellen and Powell's policy consensus and a long history of cooperation are expected to create a continuous era of coordination between monetary and fiscal policies, repairing the rift between the U.S. Treasury and the Federal Reserve. An important reason why Powell was appointed chairman of the Federal Reserve was that he was able to ensure the continuity of the policy in the Bernanke-Yelen era to a certain extent.
3, vaccine
According to the preliminary results of a large-scale trial, the Covid-19 vaccine developed by Oxford University and AstraZeneca can prevent most people from getting infected with diseases, but failed to reach the high of Pfizer and Moderna Level. Early analysis of the data showed that the vaccine could save an average of 70% of the study participants from illness. AstraZeneca said there were no serious adverse safety incidents, and the vaccine was well tolerated in both dose groups. There were no severe cases of Covid-19 in the trial, and none of the participants were hospitalized. Despite its low effectiveness, the UK vaccine has certain advantages in distribution. The other two vaccines must be frozen, and the AstraZeneca-Oxford vaccine can be kept at refrigerator temperatures, making it easier to transport and store globally, especially in low- and middle-income countries. In addition, the cost of the vaccine may also be relatively low.
ET Sunday, US federal government COVID-19 project leader Moncef Slaoui said that the United States is expected to start the first batch of COVID-19 vaccinations in less than three weeks, and may immunize 70% of people in the United States to the COVID-19 in May next year, thereby achieving herd immunity.“On December 11 or 12, the first batch of personnel in the U.S. states are expected to be vaccinated (vaccine), and state health departments will tell us where to distribute the vaccine,” Slaoui said. It is reported that the FDA Coronavirus Vaccine Advisory Committee is scheduled to meet on December 10 to review vaccine data and discuss whether to approve the vaccine on the market. It will be distributed as early as December 11. According to previous reports, the committee will also consider the safety and effectiveness of the vaccine among all races, ethnic groups and age groups, and make suggestions on vaccinated persons.
Tesla market value has exceeded the $500 billion mark
Musk Wealth has jumped to the second place in the world
As the news that it will be included in the S&P 500 index has stimulated investors' buying craze, Tesla company's stock price has repeatedly set record highs, and its market value has exceeded the $500 billion mark for the first time in history.
The electric vehicle company's share price has risen 550% this year, and the upsurge further accelerated after the S&P Dow Jones Index announced last Monday that it would include Tesla in the S&P 500. Tesla 's soar caused the company's co-founder Elon Musk to increase its net worth by $100.3 billion this year, surpassing Bill Gates to become the second richest person in the world.
Trump delivered a speech
After the Dow Jones hit a new high, Trump suddenly appeared in the White House briefing room to speak: This is the 48th time that the US stock market broke the record during the Trump administration and the 9th time that it broke the record in 2020.
Pennsylvania and Nevada confirmed Biden's victory
White House approved to provide Biden's team with a daily presidential briefing
Global Network report, on the 24th local time, Pennsylvania Governor Tom Wolf said on social media that the state's secretary of state confirmed that Biden won the 2020 presidential election. The governor himself has signed and confirmed the relevant certification documents and said that the state's election counting work is "free and fair".
According to the Capitol Hill newspaper, the Nevada Supreme Court also unanimously approved Biden's victory in the state's presidential election.
ABC (ABC) just reported that the Office of the Director of National Intelligence (ODNI) said that the White House approved the president's daily briefing to the "President-elect" Biden's team "as part of the support for the transition."
The Hill newspaper said a White House official confirmed that Trump, who refused to admit and continued to seek to challenge the election results in court, signed a deal to "share briefings." But it is not clear when Biden will receive his first "President's Daily Brief."
On the 23rd local time, US General Services Administration Director Murphy notified President-elect Biden and his team that he was ready to start the regime transition process and would distribute more than 7 million US dollars to Biden's side as transition funds.
column editor: Gu Wanquan Text editor: Cheng Pei Title picture source: Xinhua News Agency
Source: Author: China Fund News
