Daily

Fund manager's intention

2020-11-18

Affected by COVID-19 vaccine news, Dow Jones index and Standard & Poor's 500 Index both hit record highs on Monday, but the market data released last night was weak, and the core retail sales in the United States only rose by 0.2% last month.

The 0.3% increase in retail sales in the United States last month was worse than expected, which was the worst growth rate in half a year. The slowdown in growth rate reflected that the epidemic spread too fast in the United States, which plagued people's livelihood and made consumers feel hesitant about the prospects.

Consumer sentiment is falling. In addition, U.S. House Speaker Pelosi and Senate Majority Leader McConnell still hold their own opinions on the scale of the stimulus plan, and the new round of aid plan of the U.S. government is hopeless to pass this year.

The previous economic assistance has also been exhausted, the new york stock market retreated, and the Dow Jones index fell slightly by less than 0.1%; The Standard & Poor's 500 Index fell by about 0.5%; The Nasdaq index fell by 0.2%.


Although the stock market fell, the Bank of America made a survey to fund managers, which showed that the investment sentiment of fund managers was the most optimistic this year. The fund managers estimated that the optimistic degree of economic growth and profit would be the highest in 20 years.

The survey also showed that the cash level they held for customers was greatly reduced and lower than the level before the outbreak of the epidemic, while the funds obviously turned to emerging markets, small stocks, value stocks and banking stocks, and the cash was reduced

Allocation of bonds and basic consumer stocks. Most of the fund managers interviewed said that they are in the early stage of the economic expansion cycle instead of recession, so they tend to increase investment.

The tightening of restrictive measures in many European countries has caused the market to doubt the rapid economic rebound, and the vaccine news has been digested to 7788. In addition, there are obstacles in the Brexit negotiations in the UK, and the French representative made it clear that he would oppose any agreement proposed by the UK.

Unless Britain can dispel his worries about fishing. The major European stock markets developed individually, and the German DAX index was flat; French CAC index rose by 0.2%; Britain's FTSE 100 index fell 0.9%.


The US dollar continued to slump, with the US dollar index falling 0.1% to close at 92.4 points. The price of gold was also soft, reaching a peak of $1,894 per ounce, but the market outlook was weak, falling to $1,877 per ounce and finally closing at $1,880 per ounce.

Lose $8. It is expected that the price of gold will only fluctuate between 1850 and 1900 before the official US president's name. On the other hand, the virtual currency "Bitcoin" has continuously risen above 14,000, 15,000 and 16,000 in less than two weeks.

Yesterday, it broke the 17,000 mark again, with the highest price of $17,868 per piece, only $132 short of the next mark of $18,000. It is not surprising to break through again, it is only a matter of time.
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