NY stocks start with Dow's highest price renewal Feeling of security in economic prospects January 3 6:51
The New York Stock Market on the second day of the year has risen sharply due to concerns about the future of the economy, and the Dow Jones Industrial Average has renewed its high at the end of last year.
The closing price of the New York Stock Exchange Dow Jones average day trading of $ 330,36 cents compared to the end of last year at $ 28,688,80 cents, the first transaction on the 2nd, the previous day It has greatly exceeded the highest price.
In the New York market, where prices have continued to rise, stock orders started well on this day, as buy orders were placed for a wide range of stocks due to the sense of security for the future of the economy.
In addition, the emerging market “Nasdaq Index” and the broader “S & P500” also reached their highest levels. Market officials said, `` It has been decided that a formal agreement on trade talks between the United States and China will be signed on March 15, and monetary easing measures announced by the Chinese central bank on January 1 have also helped investors. ".
US market official expects stock price to rise around 5%
Regarding the US economy, market officials have said that the risk of recession is small, albeit slightly slower, and that stock prices can be expected to rise by around 5%.
"The growth will slow down. Economic growth is expected to increase from 2.3% last year," said Darrell Cronk, head of investor specialty at Wells Fargo, a leading US financial group. I think it's 2.4%, but maybe it's down to 1.8%, "he said, saying that the possibility of a recession is low, but that growth will slow down somewhat.
Regarding the Dow Stock Price, which recorded a price increase of over 22% last year, the forecast is that "we cannot expect a return as much as last year. Was.
"We don't think the issue is long-term and will come to a conclusion, until the November presidential election," said Cronk, referring to trade friction with China, which has also had a significant effect on stock prices. There will be no concrete results. "
This view is based on market observations that President Trump, who is seeking re-election in the presidential election, may avoid a situation in which the conflict with China will become serious in consideration of stock prices and other factors.
On the other hand, in connection with the presidential election, Mr. Kronk said, `` Even if I do not like President Trump personally, Wall Street welcomes the current economic policy of the administration, '' said the economic expansion. He stated that if he continued, he would work in favor of Trump's reelection.