logo |

資訊

    首頁   >     行業    >     正文

    Vaccine Good for Future Corporate Earnings, but US Economy Needs Fiscal Stimulus Now

    摘要:Asset prices “remain vulnerable to significant declines should investor risk sentiment fall or the economic recovery weaken,” the Fed said.

      Democratic candidate Joe Biden was named the new president elect on Saturday and Pfizer announced promising news on a coronavirus vaccine on Monday. Investors celebrated by driving the benchmark S&P 500 Index and the blue chip Dow Jones Industrial Average to all-time highs.

      With the Biden news, the cloud of election uncertainty was dampened, but investors started to price that news in last week. The vaccine story was a shocker and came at a time when a rapid rise in COVID-19 cases threatened to derail the already fragile U.S. economy.

      [fx-dianomivideo-ad]

      The news was bullish because if the vaccine is successful, it would eliminate the worst case scenario – meaning another shutdown of the U.S. economy. Investors wasted no time in dumping the tech stocks they had previously bought as a hedge against more restrictions, and moved the proceeds into stocks that could benefit the most from a return to a pre-COVID world.

      Investors who bought on Monday werent looking at the “now”, but rather the first and second quarters of next year. Remember that stock prices discount future events.

      While investors may have the luxury to play for the future, warnings persist that the U.S. economy needs stimulus now, or the current recovery will falter, eventually leading to a recession that may take months to pull out of even if the vaccine is successful.

      US Chamber of Commerce CEO – Congress Must Pass ‘Essential’ Covid Stimulus before Inauguration Day

      Congress has to pass on another round of coronavirus stimulus before President-elect Joe Biden is inaugurated in January, offering aid to a U.S. economy that is still grappling with the fallout of the health crisis, U.S. Chamber of Commerce CEO Thomas Donohue told CNBC on Monday.

      “The stimulus bill is essential, and the sooner its done, the better for the beneficiaries of the stimulus and therefore better for the markets and the economy,” Donohue said on “Closing Bell.”

      [fx-article-ad]US Still Faces Possible Default Wave, Asset Declines Due to Pandemic: Fed

      The United States may still face a wave of debt defaults and “significant declines” in asset prices because of the coronavirus pandemic and recession, the Federal Reserve warned on Monday, in a stark reminder the economy is far from out of the woods, Reuters reported.

      “As many households continue to struggle, long defaults may rise, leading to material losses” for lenders, the Fed said in its latest biannual Financial Stability Report. Business debt “has risen sharply as businesses increased borrowing to weather the period of weak earnings. The general decline in revenues associated with the severe reduction in economic activity has weakened the ability of businesses to services these obligations.”

      Just a Reminder

      Speculative bets on a vaccine could pay off handsomely for companies that will rely on the reopening of the economy, but we may not see the financial benefits until Q1 or Q2 of next year.

      In the meantime, asset prices “remain vulnerable to significant declines should investor risk sentiment fall or the economic recovery weaken,” the Fed said.

      So while the economy may benefit from a vaccine over the intermediate to long-term, it is still vulnerable to further weakness over the short-run if a new fiscal stimulus package isnt passed in a timely matter.

      For a look at all of todays economic events, check out our economic calendar.

    熱點資訊

    United Arab Emirates Dirham

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    當前匯率  :
    --
    請輸入金額
    United Arab Emirates Dirham
    可兌換金額
    -- United States Dollar
    風險提示

    外匯天眼資料均來自各國外匯監管機構的官方資料,如英國FCA、澳大利亞ASIC等,所公佈的內容亦均以公正、客觀和實事求是為宗旨,不向外匯交易平臺收取公關費、廣告費、排名費、資料清洗費等灰色費用。外匯天眼會盡最大努力保持我方資料與各監管機構等權威資料方資料的一致及同步性,但不承諾與其即時保持一致和同步。

    鑒於外匯行業的錯綜複雜,不排除有個別外匯交易商通過欺騙手段獲得監管機構的合法註冊。如外匯天眼所公佈資料與實際情況有不符之處,請通過外匯天眼“投訴”和“糾正”功能,向我們提出,我們將及時進行核實查證,並公佈相關結果。

    外匯、貴金屬和差價合約(OTC場外交易)是槓桿產品,存在較高的風險,可能會導致虧損您的投資本金,請理性投資。

    特別提示,外匯天眼所列資訊僅供參考,不構成投資建議。外匯平臺由客戶自行選擇,平臺操作帶來的風險,與外匯天眼無關,客戶需自行承擔相關後果和責任。