U.S. Stocks Close Up, Dow Up More Than 100 Points

  • The global epidemic continues to worsen and weaken the stimulus measures.
  • Looking forward to the stimulus, U.S. stocks fluctuated and closed up, and the Dow rose by more than a hundred points.
  • Nearly 6%, New Oriental rose more than 6%, and KXIN plunged 26.99%.

US stocks closed up on Tuesday, following brief optimism of a new economic stimulus agreement. The Dow rose more than 100 points. Online education and energy stocks rose, and micro loan (WEI) soared, At 547.21%. IBM fell more than 6%, Pinduoduo rose nearly 6%, New Oriental rose more than 6%, and KXIN plunged 26.99%.

New York Stock Exchange Headquarters

As of the close on Tuesday, the S&P 500 index rose 16.20 points, to 3,443.13 points. The Nasdaq index rose 37.60 points, or 0.33%, to 11,516.49. The Dow Jones index rose 113.40 points, or 0.40%, to 28,308.79. Most US stocks rose.

The energy sector rose 1.18%. The non-essential goods sector fund sector rose 0.81%. The financial sector fell 0.77%. The real estate sector fell 0.76%. The communications sector fell 0.70%. The general sector rose 0.55%. The industrial sector rose 0.52%. The technology sector rose 0.43%. The materials sector rose 0.20%. The medical sector rose 0.08%. The necessities industry fund sector fell 0.08%.

On Tuesday, the three major U.S. stock indexes fluctuated violently during intraday trading, and the relief bill that the market was concerned about was still unremarkable until the last moment.

Asian markets were flat, but they were not affected by the sharp drop in U.S. stocks. The Chinese government is like the market. It is expected that the benchmark lending rate has not been adjusted, showing the central bank’s determination in monetary policy. The Chinese stock market rose slightly, while the Japanese stock market fell slightly.

The overall performance of the European market was weak. Logitech, a manufacturer of mobile phone and computer accessories, was boosted by its positive performance and its share price rose sharply, 16%.

Apple’s industry chain stocks have strengthened again, but other industries, especially the tourism industry, have been weakened again by the outbreak of the new coronavirus epidemic in Europe.

In addition, the US Department of Justice announced that antitrust investigations against Google have led to a pre-market dive in the US stock index. The index still barely opened higher. Facebook once led the Nasdaq index.

Due to the fall in the US dollar and favorable Chinese economic data, oil prices rose again by more than 1%, and the energy sector led the way. At the same time, industrial stocks strengthened due to the rise of Honeywell.

The S&P 500 index rebounded to above 3,450 points. However, the three major indexes quickly fell. Apple and Microsoft turned down. The Nasdaq once gave up all gains.

During the session, the Speaker of the US House of Representatives, Rep. Nancy Pelosi (D-CA) expressed optimism that a stimulus bill could be passed. However, Senate Majority Leader Mitch McConnell (R-KY) warned the White House not to develop a large-scale stimulus plan before the election.

Apple rose by more than 2%, S&P appreciated above 3,470 points, and Bitcoin broke through the $12,000 integer mark in the intraday trading.

Related concept stocks strengthened simultaneously. Netflix and Snapchat showed a slight sell-off due to the after-hours release of results. At the end of the trading session, due to concerns about the impact of the stimulus bill, market profit-taking sentiment was obvious.

The panic index VIX and S&P rose simultaneously. Bank stocks still performed strongly, under the leadership of Goldman Sachs, and S&P fell below 3,450.

FTSE China A50 Index futures rose 0.53%. As of the close, the Shanghai Composite Index rose 0.47%, to 3328.10 points. The Shenzhen Component Index rose 1.36% to 13,603.88 points. The Nikkei 225 Index fell 0.44%, and the Seoul Composite Index rose 0.50%.

Most European stock markets fell slightly in early trading on Tuesday. The European Stoxx 600 index fell 0.16%, the Italian FTSE MIB index fell 0.20%, the UK FTSE 100 index fell 0.09%, the French CAC 40 index rose 0.04%, and the German DAX index fell 0.34%.

Nancy Pelosi is an American Democratic Party politician serving as Speaker of the United States House of Representatives since January 2019. She is the first woman in U.S. history to hold this position. First elected to Congress in 1987, Pelosi is the highest-ranking female elected official in United States history

US WTI futures prices rose 1.6%, to close at $41.70 per barrel. International Brent oil prices rose 1.3%, to close at $43.16 per barrel. The market expects that US crude oil inventories fell by 1.9 million barrels last week, the second consecutive week decline.

Gold futures prices rose 0.2%, to close at $1,915.40 per ounce, as a new round of the new coronavirus stimulus plan in the United States is expected to be achieved and the ICE dollar index fell sharply by 0.4%.

Speaker Pelosi said on Tuesday that both parties to the fiscal stimulus negotiations have made progress in their respective negotiations, and are close to reaching a stimulus agreement.

Speaker Pelosi’s spokesperson, Drew Hammill, said on Monday that she and US Treasury Secretary Steven Mnuchin negotiated a new round of fiscal stimulus plans by telephone on Monday afternoon, and “the two sides continue to narrow their differences.”

Speaker Pelosi played down the importance of her having to reach an agreement before the end of Tuesday, indicating that she will continue negotiations. She added that to prepare the stimulus bill before Election Day, legislators must reach an agreement and write the bill before this weekend.

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Benedict Kasigara

I have been working as a freelance editor/writer since 2006. My specialist subject is film and television having worked for over 10 years from 2005 during which time I was the editor of the BFI Film and Television.

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