Weekly

The US stock market ended its continuous decline. Yesterday, US technology stocks were sought after by the market again, driving the stock market to rise. The Nasdaq index rose 185 points and closed at 10,963 points, up 1.71%; The Dow Jones index closed at 27,288 points,

Re-enter the level of 27,000 points, an increase of 140 points or 0.52%; The S&P index rose 35 points or 1.1% to close at 3315 points. Federal Reserve Chairman Powell continued to attend congressional hearings yesterday.

He mentioned that the US economy has improved under the COVID-19 epidemic, but there is still a long way to go before the US economy can fully recover. He said that many data showed that the economy was improving, but the labor market was still fragile.

Economic activities are also far below the pre-epidemic level; However, he reiterated his previous view that the Fed will support economic recovery at any cost, that is, it will further implement fiscal and monetary policies when necessary.

The leaders of China and the United States made a gesture at the video summit of the United Nations. President Xi Jinping pointed out that the new pneumonia epidemic is a severe test for the whole world. Facing the new situation and new challenges, the United Nations should play an active role.

Cooperation to improve global destiny. He emphasized that no country has the right to take charge of international affairs, dominate the fate of other countries, monopolize development advantages, and implied that the United States is hegemonic. In his speech, Trump described COVID-19 pneumonia as Chinese virus.

He once again accused China of causing the epidemic to spread all over the world and asked the United Nations to hold China accountable. The cumulative number of infected people in novel coronavirus is close to 31.76 million, and the number of confirmed deaths exceeds 970,000.

In the United States, about 35,000 people were diagnosed with new pneumonia yesterday, and the cumulative number of infected cases exceeded 7.09 million, which continued to be the country with the most infected cases in the world. The epidemic situation in India continued to deteriorate, with 90,000 new cases yesterday.

The cumulative number of infection cases exceeded 5.6 million. Bill Gates, founder of Microsoft, said that under the best circumstances, he expected the epidemic to end in 2022.

There are many twists and turns in the relief measures for the epidemic in the United States, and it is unlikely that they will be introduced before the November presidential election. On the other hand, Australia is actively considering a new round of relief measures. The Australian dollar weakened against the US dollar.

In addition, the voice of Britain considering negative interest rate policy to strengthen its competitiveness is endless, and the US dollar index continued to perform strongly yesterday, reaching 94.2 yesterday, the highest level in two months. After a sharp adjustment at an early date, the price of gold oscillated downward yesterday.

Affected by the strength of the US dollar index, the price of gold began to fall from the high of 1920 US dollars per ounce in the morning market, reaching the lowest of 1895 US dollars per ounce, and finally closed at 1900 US dollars per ounce, down 13 US dollars.

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