Economic Daily News
Recently, the global stock market has risen sharply. The American SP 500 Index and the Nasdaq index have reached a record high. The former closed at 3,500 points on August 31, and the latter was closed at 11,775 points.The low point of 2,237 points and 6,860 points, a sharp rebound of 56.4%and 71.6%; although the Dow Jones Industrial Index did not reach a new high, it also recovered most of the loss of soil after the outbreak of the epidemic.Under the end of the epidemic and the economy is still fatigue, the current stock price index has become popular, which will inevitably make people feel confused.
There are four reasons: First, after a period of time control, many countries have gradually slowed out, and the control measures affecting economic control have also been relaxed.Even though there are two waves of epidemic outbreaks in some countries (such as the United States), the U.S. inspection confirmation rate (the number of diagnosis in addition to the number of inspections) collected by the University of Washington still maintains a downward trend.Breakthroughs make people look forward to the emergence of vaccines.
The third is that corporate financial reports and economic data have stopped decline. Since July, many economic data performance in the United States is even significantly better than expected. It is obvious that the impact of epidemic on economic and enterprise operations is severe, but it is much slightly slightly more slightly expected than investors;The fourth is that the stimulating fiscal and monetary policy continues to note the capital momentum of the financial market.The reason why investors are full of confidence in the US stock market is that they are convinced that the Fed will maintain a very low interest rate policy in the visible future.
Although the RMB loose monetary policy and the incentives of the US government's fiscal policy, with the positive information blessing of vaccine research and development, it is definitely a key factor for U.S. stocks to rebound and thrive.However, most of the US stocks have risen since March this year, and most of them are concentrated in science and technology stocks.Among them, technology companies such as Apple, Amazon, Facebook, Microsoft, Alphabet Holdings (Google's parent) not only regain the lost soil, but also hit a record high in August.Or nearly double.At the same time, the global related cooperative manufacturers also seem to have come out of the downturn and become the highlight of the epidemic.
According to the market value ranking of the global listed company published by Zicheng (PWC) earlier this year, the US technology company includes five seats in the top ten, and the market value weight of the five major technology giants in the United States accountsSee you in history.In addition to affecting the financial market and economic level, the influence of the living habits of contemporary people has no far -rear. For example, the oil industry nearly a century ago, it will inevitably attract the attention and review of supporting anti -Torais groups.
Specifically, when network services have gradually become a necessity for people's livelihood in the United States, there are long -term calls for preventing the monopoly of the technology industry in the society. It is emphasized that the government must strictly control the operations of these enterprises to prevent it from acquisitioned through mergers and acquisitions.There are business splitting to prevent monopoly and even nationalized companies.This policy was also one of the primary policies of veterans Sanders and Wallen when the US Democratic President's primaries at the beginning of the year.Although the two returned in the primary election, their well -known support rate at the primary election said that the issue still had a considerable degree of supporters in the United States.Nowadays, the doubts of the science and technology giants have risen, and the suspicion of economic giants has risen, and it is even more difficult to stop.
On July 30 this year, the US House of Representatives Anti -Toras committee held a hearing for the four major technology giants of Apple, Amazon, Facebook, and letters.No, the technology industry that has grown up due to the great increase in demand will be the focus of the US government.These technology giants may be investigated or even split, just as the US government treats Standard Oil a century ago.
In short, investors are still optimistic about the short and medium -term outlook of the US stock market, because recent vaccine development in various countries has entered the human test stage, and people expect that the economy will be bad.The inflation goal means that even if the economic recovery, the monetary policy will continue to be loose, and the market will continue to enjoy the warm wind of low interest rates.However, the market forces controlled by all technology giants have aroused the attention of American politics. Before the epidemic level, the U.S. government will not take too much regulatory action against these economic pillars.But when the technology industry has quietly became the oil empire of the 21st century, investors who immersed in the emotional emotions must not forget that the anti -Torais sword is still there.
