Negotiations on New Stimulus Plan Stall, Disappointing Markets

    Negotiations between the two parties on a new round of stimulus plans have stalled again, leaving the market extremely disappointed. In late trading, the Dow, the S&P 500, and others reversed and fell, and the Nasdaq fell further. Economically sensitive sectors such as energy, finance, and industry, which led the market rally, all saw their gains shrink sharply.

 

    Considering Trump's intention to lower capital gains tax, the recent decline in hospital admissions of Covid-19 patients in the United States, a new stimulus package is still expected to be launched, economic data has improved slightly, and Russia has approved vaccine and other factors, the cruise, gaming, hotel, and other industries that were hit by the pandemic in the early stage still experienced a certain increase.

However, the index opened high and going low, and the heavy volume closed low, which is still causing pressure on the market outlook.