Sino-Singapore Jingwei Client, August 11. The three major U.S. stock indexes were mixed on Monday. The Dow and S&P 500 both rose for 7 consecutive trading days and hit a new closing high for nearly six months. The Dow rose more than 350 points.
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At 16:00 on August 10, U.S. Eastern time (04:00 on August 11, Beijing time), the S&P 500 index closed up 9.19 points, or 0.27%, to 3,360.47 points; the Dow closed up 357.96 points, or 1.30%, Reported at 27791.44 points; the Nasdaq closed down 42.62 points, or 0.39%, to 10968.36 points.
Most of Bank of America stocks closed up. JPMorgan Chase rose 1.33%, Goldman Sachs rose 0.53%, Citigroup rose 1.44%, Morgan Stanley rose 0.46%, Bank of America rose 1.74%, and Wells Fargo fell 1.44%.
Major US technology stocks fell. Amazon fell 0.61%, Netflix fell 2.29%, Google fell 0.1%, Facebook fell 2.03%, Microsoft fell 1.99%, and Apple rose 1.45%.
Popular Chinese concept stocks were mixed, with Alibaba down 1.61%, JD.com down 0.92%, Baidu up 0.05%, Weibo up 2.88%, Pinduoduo down 0.76%, NIO up 5.85%, Netease down 2.17%, beep Li Bili fell 1.47%, Tencent Music fell 1.97%, and iQiyi fell 0.49%.
In terms of news, on August 10, local time, the governors of New York and Kentucky respectively stated that the order was "unfeasible" on the unemployment benefits executive order signed by Trump recently. "If the President feels that this is a solution, the situation can only be worse," said New York Governor Andrew Cuomo, suggesting Trump "stop digging." "The executive order just makes this pit bigger."
On August 8, local time, after negotiations with Congressional Democrats reached a deadlock, Trump signed several executive orders aimed at extending some of the expired relief measures for the new crown epidemic. One of the executive orders requires that the unemployed be provided with additional unemployment assistance of $400 a week, and the states will pay the remaining $200. The Governor of Kentucky, Steven Bessier, said that this approach would not work. "My motive today is not to criticize or point out that the President's executive order was not out of good intentions to help, but to point out that the current plan is not feasible."
The governors said that local governments did not have enough financial resources to pay for the extra unemployment benefits, and even some state governments would collapse. Cuomo also said that the executive order will be "challenged by the New York courts", and whether Trump has the right to issue this order is still awaiting serious legal investigation.
European stocks: The three major European stock indexes rose across the board on the 10th. The London Stock Market "Financial Times" average price index of 100 stocks closed at 6050.59 points, an increase of 18.41 points, or 0.31%. The CAC40 index of the Paris stock market closed at 4,909.51 points, an increase of 19.99 points, or 0.41%. The DAX index of the Frankfurt stock market in Germany rose 12.65 points, or 0.10%, to close at 12687.53 points.
International oil prices: New York oil prices rose on the 10th, and the price of New York light crude oil futures for September delivery rose 72 cents to close at 41.94 US dollars per barrel.
In terms of gold: the most active December gold futures price on the New York Mercantile Exchange gold futures market rose by 11.7 US dollars over the previous trading day on the 10th, closing at US$2039.7 per ounce, an increase of 0.58%. (Zhongxin Jingwei APP)