Inspired by the good news such as the approval of serum therapy by FDA and Trump’s promotion of the new crown vaccine coming out before the election, the US stock market closed up, the Dow rose nearly 400 points, and returned to above 28000 points. For the first time in the history of S & P, the S & P closed above 3400, and the NASDAQ reached a new closing high. Aviation stocks and oil stocks rose, apple set a new record, and ideal automobile (LI) was awarded the buy rating of Goldman Sachs Nearly 14%, Mogu’s revenue fell 46.8% year-on-year, down 21%.
By the end of the day, the Dow Jones index rose 378.13 points, or 1.35%, to 28308.46 points; the NASDAQ index rose 67.92 points, or 0.60%, to 11379.72 points; the standard & Poor’s 500 index rose 34.12 points, or 1.00%, to 3431.28 points. The NASDAQ rose to 11462.05, while the S & P 500 index rose to 3432.09, all of which set a new record. U.S. stocks mostly rose. Energy sector rose 2.78%. The financial sector rose 2.39%. The industrial sector rose 1.81%. Materials sector rose 1.76%. Non essential industry fund sector rose 1.52%. Communications sector rose 1.22%. GM shares rose 0.88%. The technology sector rose 00.86%. The necessities industry fund sector rose 0.78%. The real estate sector rose 0.14%. The healthcare sector fell 0.46%.
On Monday, the three major U.S. stock indexes continued to rise collectively, with the S & P 500 index jumping high and directly breaking through the 3400 integer level; the overall strength of the Asian market, the newly launched registered science and technology innovation board in China’s stock market triggered a rush for funds. Some stocks rose more than 20 times, while the rising composite index only rose slightly by 0.15%. Hong Kong stock market continued to soar, and meituan’s share price rose strongly; the European market rose sharply All major stock indexes rose more than 1% Novel coronavirus pneumonia is being issued to the United States Food and Drug Administration for emergency treatment. In order to cope with more and more cases, the market panic has dropped. Meanwhile, Moderna began to discuss vaccine issues with the European Union and prepare 80 million vaccines. Novak medical care has begun preparing for the second stage vaccine test. The three major indexes in the morning market are all open, apple and Tesla continued to lead the market. Apple directly stood at the $500 level, and Tesla hit $2100. However, the good times did not last long. Tesla fell quickly, turning from up to down and breaking through the $2000 barrier. Aviation stocks began to rise under the stimulus of the good news of the epidemic. American Airlines rose by more than 10%, while technology stocks began to fall overall. AMD, Microsoft and other companies returned their gains During the session, oil drilling platforms in the Gulf of Mexico began to shut down due to the impact of the southeast tropical storm in the United States, oil prices slightly recovered, and energy stocks rebounded. ExxonMobil rose by more than 2%, and southwest energy rose by more than 8%. The energy sector led the market, and the financial sector began to strengthen. Goldman Sachs rose more than 1%. However, due to the rebound of the US dollar, the gold price was in a low performance, Gold mining stocks changed from up to down; at the end of the day, Boeing took the lead and rose by more than 5%. Industrial stocks burst out, Deere and caterpillar both rose by more than 2%. S & P refreshed the intraday high above 3430, up more than 1%, and the Dow rose nearly 400 points.
Europe’s Pan European 300 index was up 1.66%, the UK’s FTSE 100 index was up 1.7%, Germany’s DAX index was up 2.4%, France’s CAC index was up 2.3%, and Spain’s ibex index was up 1.3%.
Gold futures closed lower on Monday. The potential coronavirus therapy sparked optimism, driving global stock markets up sharply, bringing gold to its lowest close in about a month. On Monday, gold futures for December delivery on the New York Mercantile Exchange fell $7.80, or 0.4%, to $1939.20 an ounce, the lowest level since July 27. Silver futures for September delivery fell 12 cents, or 0.5%, to $26.607 an ounce.
Crude oil futures closed higher on Monday. The Gulf of Mexico storm caused the region’s crude oil and natural gas production decline, crude oil futures prices were boosted. WTI futures for October delivery on the New York Mercantile Exchange rose 28 cents, or 0.7%, to $42.62 a barrel. It was the first time the futures had gained in three trading days.
US approved emergency use of convalescent plasma for treatment of hospitalized patients with new crown
On Sunday, the U.S. Food and Drug Administration (FDA) officially issued an emergency use authorization (EUA) for plasma therapy, allowing the use of convalescent plasma collected from convalescent patients to treat patients with coronavirus infection. Although the treatment has not yet undergone a complete clinical trial, the FDA said it believes the data so far suggest that “this product may be effective in treating coronavirus, and the known and potential benefits of the product outweigh the known and potential risks of the drug.”
EUA system is developed by FDA in order to better apply medical countermeasures in emergency situations such as chemical, biological and nuclear pollution. In 2009 H1N1 influenza, 2014 Ebola virus, 2016 Zika virus outbreaks, FDA has used the system. EUA does not equate to approval, but obtaining the EUA indicates that the FDA believes that the benefits of the treatment outweigh the risks. Even if the treatment regimen or product is not officially approved by FDA, it can be used for diagnosis, prevention and treatment.
At a white house media briefing on the 23rd, U.S. President trump called the urgent authorization of plasma therapy for the treatment of coronavirus as a “very historic breakthrough”, and said that according to the Mayo Clinic Study on patients, this treatment reduced the mortality rate of patients with coronavirus by 35%. In fact, the treatment has been used for months. Since March, Mayo Medical Center in the United States has carried out relevant programs, and more than 70000 people have received treatment.
Trump will accept the Republican presidential nomination
The Republican National Congress (RNC) will open in Charlotte, North Carolina, from 24 to 27. Affected by the epidemic, the main activities of the Republican National Congress will be held online and remotely. Only a small number of Republicans will personally participate in the agenda of the Congress in Charlotte, North Carolina, in the southeast of the United States.
Last week, former Vice President Joe Biden formally accepted the Democratic Party’s presidential nomination at the Democratic National Congress (DNC).
This week’s Republican convention will nominate current U.S. President trump and vice president John burns, who are seeking re-election, as presidential and vice presidential candidates for the 2020 US election. Trump will give a speech on the South Lawn of the White House on the evening of 27th, formally accepting the nomination of the party.
Biden: will increase taxes on the rich who earn more than $400000 a year
US Democratic presidential candidate Biden and vice presidential candidate he Jinli were interviewed by United TV for the first time on Sunday (August 23, US Eastern time). In the interview, Biden stressed that if elected, he would raise taxes on the rich and big businesses, and that the tax increases would not include Americans or small businesses with annual incomes of less than $400000. That’s what we did last time. Biden was referring to what the U.S. government did during the great depression in 2008. At that time, he served as vice president of the Obama administration and participated in leading the economic recovery of the United States.
Trump wants to quickly approve the UK vaccine before the election
U.S. President trump is pushing for at least one new vaccine to be available before the election. The trump administration is considering quickly approving a candidate coronavirus vaccine in the UK by bypassing the normal regulatory standards in the United States, with one option being to grant an emergency use authorization (EUA) to AstraZeneca and Oxford University candidate vaccines, British media reported on Sunday. According to people familiar with the matter, the food and drug administration could authorize as early as October.
But a spokesman for the U.S. Department of health and human services told the media that it was “absolutely wrong” to grant Oxford University an emergency use authorization for the experimental vaccine before the US presidential election. Before this week’s Republican National Convention, most polls showed Trump’s approval rating behind Biden’s. According to the analysis, trump hopes to speed up the vaccine process to improve its support rate. In a speech last week, Trump’s rival, Biden, accused the U.S. government of being less responsive to the epidemic than any other country.
According to a new article published on the New York Fed’s website, although the Federal Reserve has provided huge amounts of money to the financial system, the issuance of huge treasury bills has played a key role in raising interest rates in the financing market. Antoine Martin, senior vice president of the Fed’s research and statistics group, and James J. McAndrews, Ali palida and David skeie, said Treasury bill supply helped explain the sometimes “confusing” behavior of short-term money market interest rates since 2008. As treasury bond yields rise with the increase in issuance, investors may shift from deposits to money market funds, thus reducing the pressure on banks’ balance sheets and prompting them to raise interest rates for competition; short term interest rates have fallen below Ioer this month, partly due to the inflow of principal and interest from government funded enterprises.
The inflation level in the United States has dropped sharply since the outbreak of the new crown epidemic. The latest study of the Federal Reserve attributed the decline of consumption demand caused by the household order. “Current data show that the recent decline in core PCE inflation is mainly due to the sharp decline in consumer demand for goods and services due to the new crown epidemic,” Adam Hale Shapiro, a banking research adviser at the San Francisco fed, wrote in an economic report released on the bank’s website on Monday. This is enough to offset the upward inflationary pressure caused by supply constraints in some industries. ” He pointed out that compared with the commodity category, the number and price of the service category changed significantly, especially the sharp decline in air travel and hotel. The Fed’s inflation target is a 2% rise in the price index of personal consumption expenditure (PCE). At the same time, the Fed is also closely monitoring the core index of the index after deducting food and energy prices. Since the outbreak of the Xinguan epidemic, these two indicators have declined significantly. The core PCE price index rose by 0.9% in June and 1.9% in February.
Thomas Barkin, chairman of the Richmond fed, said demand for some service industries could fall after the new coronavirus vaccination. He pointed out that young people in the United States may face long-term employment difficulties, because direct customer-oriented jobs such as restaurants and services may not be able to fully recover from the new epidemic, so he urged more retraining of the U.S. labor force. He said the issue is particularly important for young workers, who have taken on a lot of customer service and have been particularly hard hit by the epidemic.
NABE survey: the U.S. economy has a quarter chance of falling into a double dip recession
According to the latest survey by the National Association for Business Economics (NABE), economists believe that the U.S. economy has a quarter chance of falling into a double recession. Respondents believe that the U.S. economy may come out of recession in the second half of this year or some time next year, but most economists say Congress needs to expand supplementary aid.
The NABE survey was conducted from the end of July to the beginning of August, summarizing the responses of 235 members. Two thirds of the economists surveyed said the U.S. economy is still in the recession that began in February, and nearly 80 percent believe there is at least a quarter chance of a double dip recession. The so-called “double dip recession” refers to a short-term recovery after the first recession, and then falls into recession again.
Most economists said they thought Congress should expand the supplementary unemployment insurance and wage protection program (PPP) for small businesses, and 22% believed that the next round of assistance should be between $1.5 trillion and $2 trillion.
Goldman Sachs: first buy rating of ideal car, target price of $20.6
In its research report, Goldman Sachs said that the ideal car conceives and creates a compelling consumer experience for electric vehicles, which sets it apart from other Chinese car manufacturers. Ideal automobile is the first manufacturer in China to commercialize the extended range electric vehicle. The company launched the first model of ideal one in November 2019. Goldman Sachs first gave the ideal car a buy rating and a target price of $20.60, and added the company’s shares to its list of confirmations.
Revenue of yunmi technology in the second quarter of 2020 increased by 45.2% year on year
Yunmi released its second quarter 2020 results as of June 30 today, with net revenue of 1684.4 million yuan (US $238.4 million), an increase of 45.2% compared with RMB 11602 million yuan in the same period of last year. Net profit was 10.3 million yuan (US $1.5 million), compared with 88.9 million yuan in the same period last year. The net profit was 41.5 million yuan (about 5.9 million U.S. dollars), compared with 99.3 million yuan in the same period of last year.
360 digital technology’s revenue in the second quarter of 2020 is 3.34 billion yuan, with a year-on-year increase of 50.0%
360 digital today released its second quarter 2020 results as of June 30, with total net revenue of 33401 million yuan (about 472.8 million US dollars), up 50.0% from 2226.9 million yuan in the same period of last year. Net profit was 876.5 million yuan (US $124.1 million), up 41.8% from 618.2 million yuan in the same period of last year. Not in accordance with US GAAP, net profit was 942.1 million yuan (US $133.4 million), up 36.2% from 691.7 million yuan in the same period of last year.