On Monday, December 28, you must know the following five things:
1.-As Trump signs the stimulus bill, stock futures rise
On Monday, Donald Trump signed a $2.3 trillion coronavirus rescue and government funding plan. Since then, stock futures have risen.
Contracts related to the Dow Jones Industrial Average rose 178 points, S&P 500 futures rose 26 points, and Nasdaq futures rose 89 points.
Trump postponed the signing of the bill, implying that he would block the bill if the stimulus check was not raised to $2,000 from the $600 approved by Congress last week and spending was not reduced.
However, as many as 1
The huge bill includes $900 billion in pandemic relief and $1.4 trillion in government spending to fund federal agencies before the end of the fiscal year in September next year.
Suresh Tantia, a Credit Suisse strategist, told Bloomberg that such stimulus measures “may support the market and support the U.S. economy.” “All of the foundation next year is the basis for the continued market rebound. .”
The S&P 500 index has risen by nearly 15% in 2020. On Thursday, the last trading day before Christmas, the S&P 500 index rose 0.36%, the Dow rose 0.23%, and the Nasdaq index rose 0.26%.
According to data from Johns Hopkins University, the confirmed death toll from the global coronavirus Covid-19 has risen to nearly 1.77 million. The confirmed virus cases worldwide have risen to 80.83 million.
The death toll in the United States is 333,129, the highest in the world. The number of infected people in the United States is 19,136,158.
According to university data, as of Sunday, there were 226,274 new coronavirus cases and 1,663 deaths in the United States.
Bloomberg reported that the number of hospitalizations in California rose to a record high after the state had added 50,141 cases, which was the highest level on record since two weeks ago. The total death toll in California rose to 24,220.
Covid-19 vaccine produced by AstraZeneca (AZN)-Get report Bloomberg quoted a person familiar with the matter as saying that Oxford University may be approved by the UK as early as this week.
The approval will be three weeks after the UK becomes the first Western country to start immunizing its citizens with the Covid-19 vaccine, which was injected by Pfizer PFE and BioNTech BNTX.
AstraZeneca CEO Pascal Soriot said on Sunday that researchers believe that the British drugmaker’s injection will be effective against this new virus variant, which will quickly reduce the infection rate in the UK. increased.
3.- China orders Ant Group to overhaul its business
Alibaba’s U.S.-listed stock (Baba)-Get report On Monday, after Chinese regulators ordered Ant Group to overhaul its lending and other consumer finance businesses, its stock price fell 1% in pre-market trading.
Alibaba owns a 33% stake in Ant Group, the world’s largest financial technology company.
The People’s Bank of China announced the news just a few days after regulators began an antitrust investigation of e-commerce giant Alibaba. It was followed by the Shanghai Stock Exchange last month suspended Ant Group’s $37 billion listing, which will be the world’s largest initial public offering.
The regulator said in a statement on Sunday that they have ordered Ant Group to develop a rectification plan and implement a timetable for overhauling its business, which includes credit, insurance and wealth management services.
In pre-market trading, Alibaba’s American Depositary Receipts fell 0.99% to US$219.81. After the news of the antitrust investigation came out, American depositary receipts fell by more than 13%.
4.- Bitcoin breaks through $28,000
Bitcoin rose to a record above $28,000 early on Sunday and has been pushed higher in recent days due to institutional investors and speculators jumping to the world’s largest cryptocurrency.
According to CoinDesk data, Bitcoin broke through $25,000 on Friday night, and then broke through $26,000 and $27,000 on the weekend. At the time of the last check, the transaction price of Bitcoin was $26,758.
Bloomberg pointed out that so far, Bitcoin’s excess returns in October, November and December are the longest returns since mid-2019.
Bitcoin broke through $20,000 for the first time on December 16.
Many experts believe that Bitcoin has more benefits-some people expect Bitcoin to trade at more than $30,000. However, if investors and speculators lose confidence in digital currencies, as they did in February and March and from December 2017 to December 2018, digital currencies can easily plummet.
5.- This week’s economic calendar
The US economic calendar is light on Monday, but housing sales, unemployment benefits and trade data will be released later this week.
Few companies will release earnings reports this week.Those will include Sina (Sina)-Get report, Weibo (World Bank)-Get report And CSP Inc. (CSPI)-Get report.