Boost by the news of coronavirus vaccine candidates, major U.S. stock indexes hit a new high.
8th December U.S. time, the three major U.S. stock indexes opened low and went high. At the close, the Dow index rose 0.35%, and the S&P 500 Index and the Navian Index closed up 0.28% and 0.5% respectively, both of which set new closing highs in history. A series of news about the coronavirus vaccine candidate has supported the U.S. stock market. Shares of Johnson & Johnson rose 1.73%, giving a big boost to the Dow and the S&P 500 Index. On Tuesday, the company said that it expected to obtain the later test results of its vaccine in January next year, which was earlier than expected.
In addition, the report of the U.S. Food and Drug Administration mentions that the efficacy of the U.S. pharmaceutical manufacturer Pfizer’s coronavirus candidate vaccine is 95%, showing safety and effectiveness. Once this regulator approves the emergency use authorization of Pfizer vaccine, the vaccination will begin within the next 96 hours. Following these good news, the U.S. health care sector closed up 0.73%, leading other major industries.
Negotiations on the U.S. fiscal rescue plan are still in progress.
On the other hand, bipartisan negotiations on short-term government spending and a new round of fiscal rescue plans are still under way, and this Friday is regarded as the deadline for the federal government to close. According to the latest report, bipartisan lawmakers are trying to bind two proposals to one. House Speaker Pelosi said that the financial rescue plan included a proposal to issue cash checks of $1,200 directly to individuals and families, but the White House wanted to reduce the amount of cash distributed to $600.
Significant progress has been made in Brexit trade negotiations
The three major European stock markets fluctuated on Tuesday and closed mixed. The London and Frankfurt stocks closed slightly higher than 0.05% and 0.06% respectively, while the Paris stock market closed down 0.23%. The much-watched British trade negotiations with the EU have made significant progress, and the two sides have reached an agreement on how to manage Ireland’s border with Northern Ireland, which means that a major point of dispute in the negotiations has been resolved. Following the good news, the pound rose nearly 100 points against the dollar in the session, and then fell back. In addition, German Health Minister Spahn said that the German government may further tighten epidemic prevention measures in the near future.
The news in the crude oil market is mixed, and the price of crude oil has changed little.
Crude oil prices changed slightly on Tuesday because of two factors. On the one hand, the market is worried that some countries will tighten epidemic prevention measures in the next few weeks, and on the other hand, the supply of coronavirus vaccine is expected to be earlier than expected. The two major crude oil futures rose and fell differently, among which WTI light crude oil futures of the United States closed down at barrel. At $45.60, Brent crude oil futures closed up at $48.84 a barrel.
Gold prices stabilize, the market continues to pay attention to the negotiation of the U.S. fiscal stimulus package.
Gold prices rose on Tuesday, and gold futures for delivery in February 2021 closed at $1,874.90 per ounce. Market analysis believes that gold prices are only one step away from high levels, and once the United States confirms more fiscal stimulus, it will provide more incentive for gold prices to rise.