As investors gave up some of last week’s gains, stock futures mostly fell on Monday, which caused the S&P 500 and Nasdaq to hit new highs, and the Dow Jones index exceeded 30,000 for the first time.
The three major indicators are expected to end with major monthly increases in November. Based on Friday’s closing price, the Dow Jones Index will record its best monthly monthly increase of 12.9% since the beginning of 1987. The S&P 500 index rose 11.3%, and the Nasdaq index rose 11.9% in November. Will be the biggest increase since April this year.
Last week, investors were optimistic about the upcoming COVID-1
Stocks will benefit from a long-lasting economic reopening, as the surge last week made the vaccine likely to go lower as traders expanded the November rotation to cyclical stocks and got rid of some of the high-tech companies that led during the pandemic. The share prices of Carnival Corporation (CCL), Norwegian Cruise Line Holdings (NCLH), American Airlines (AAL) and United Air Lines (UAL) jumped by double digits in the last week alone, far surpassing the 2.3 market share in that time period. % Increase. . Boeing (BA), American Express (AXP) and Chevron (CVX) led the Dow Jones index gains.
The steady drumbeat of the vaccine renewal mixes with more developments around President-elect Biden’s cabinet selection, with the positive nomination that has been seen as the key to the market. Since the media first announced the results of the election at the beginning of this month, many investors have been pleased with the possibility of a split in the government, although control of the Senate was not finally known until January.
“The triple effect of recent positive catalysts should continue to boost the market. The stock market welcomes Biden’s decisive victory, Congress has also split, and the news flow about vaccine efficacy is much better than expected.” Barclays headed by Maneesh Deshpande The stock strategist said in a report last week. “It is important that corporate earnings continue to exceed expectations, and we expect this trend to continue. The reversal of the large outflows of mutual fund funds year-to-date should provide additional support.”
Despite this, the COVID-19 situation in the United States is still more severe. As Americans travel on holidays and engage in outdoor activities become more and more difficult, winter is expected to become particularly severe. So far, in November alone, the number of COVID-19 cases in the United States has exceeded 4 million, more than double the one-month record (1.9 million) a month ago. According to Johns Hopkins (Johns Hopkins), a total of more than 13.2 million Americans were infected and 266,000 died.
8:34 AM EST: Delivery company DoorDash’s IPO may raise up to $2.8 billion
DoorDash, the largest express company in the United States, plans to raise up to US$2.8 billion through an initial public offering, becoming one of the latest companies to join the public offering torrent this year.
According to Monday’s securities filing, DoorDash will sell 33 million shares at a price of US$75 to US$85 per share, giving the company a market value of more than US$30 billion.
In the nine months ended September 30 this year, DoorDash’s revenue more than doubled from the same period last year to $1.9 billion, compared with $885 million in the same period last year. During this period, its net loss narrowed to US$149 million, compared to US$667 million in the same period in 2019.
8:23 a.m. EST: General Motors announces a small deal with electric car manufacturer Nikola
General Motors said in a statement on Monday that it has revised the terms of the deal with the newly-listed electric car maker Nicolas (NKLA), which was first announced in early September.
Under the terms of the new agreement, General Motors will supply its Hydrotec fuel cell system to Nicolas’ commercial semi-truck. However, the company will no longer hold Nikola’s equity, nor will it help manufacture Nikola’s Badger electric pickup truck as previously planned.
After the announcement, Nikola’s stock price fell more than 7% in early trading, while General Motors stock fell less than 1%.
Monday at 7:05 AM Eastern Time: Stock futures point to a lower opening
The following are the main market trends as of 7:05 AM Eastern Time:
S&P 500 Futures (ES = F): 3,620.75, down 15.75 points or 0.43%
Dow Futures (YM = F): 29,679.00, down 195 points or 0.65%
Nasdaq Futures (NQ = F): 12,256.5, down 1 point or 0.01%
CrudeCL = F): -0.64 USD (-1.41%) to 44.89 USD per barrel
gold(GC = F): -$13.80 (-0.77%) to $1,774.30 per ounce
10-year treasury bond (^ TNX)：+1.3 bps can produce 0.855％
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