New York stocks rise as Ukrainian tensions ease… Morning briefing on approval of the 4th vaccination in the US

Enter 2022.03.30 07:05
Edited 2022.03.30 07:22

◆ New York stocks rise all at once as tensions in Ukraine ease

New York stock indexes rose as geopolitical tensions between Russia and Ukraine eased somewhat. On the 29th local time, the Nasdaq Composite closed at 14,619.64, up 1.84% from the battlefield, the S&P 500 at 4631.60, up 1.23%, and the Dow Jones Composite at 35,294.19, up 0.97%. Expectations for a ceasefire are rising when Russia announced that it would reduce military activities following the fifth peace negotiations with Ukraine. As investors’ anxiety eased, risk-taking tendencies emerged, experts said.

◆ Biden: “Russia, we will watch… Judging by actions, not words”

The U.S. government was cautious regarding Russia’s mention of a reduction in military activity. It is the position of “judging by actions, not words”. When asked regarding the Russian side’s stance on the announcement on the 29th local time, U.S. President Joe Biden said, “Let’s see what they offer. I won’t make any predictions until I see them take action,” he said. He added that such a consensus was formed with the leaders of Britain, France and Germany.

◆ US long-term Treasury yield gap inverted… possible recession

The inversion of long-term and short-term Treasury bond yields in the US predicts the possibility of an economic recession in the future. On the 29th local time, the yield on the 2-year US Treasury note surpassed the yield on the 10-year Treasury at 2.39%. The recent decline in yields on 10-year Treasury bonds is in line with the recent decline in yields on 2-year Treasury bonds while the US central bank (Fed. When short-term rates are higher than long-term rates, it is usually considered a sign of a recession. It is the first time since September 2019, when the US-China trade war escalated, that the 2-year Treasury yield inverted the 10-year Treasury yield.

◆ FDA approves ‘4th vaccination’ for Pfizer and Moderna vaccines over 50 years of age

The US Food and Drug Administration (FDA) approved the ‘4th dose’ of the COVID-19 vaccine for adults 50 years of age and older on the 29th local time. The two approved vaccines are Pfizer and Moderna. As a result, Americans over the age of 50 who have been over 4 months since the third dose can receive the fourth vaccine, the second booster shot. Pfizer and Moderna initially requested permission for the fourth dose for adults 65 years of age or older, but the age for approval has been extended. CNBC reported that the decision was made without the convening of an FDA advisory committee, which is unusually composed of external experts. Research results suggesting that the secondary booster shot can prevent death or hospitalization in the elderly may have influenced the decision.

◆ Rain throughout the followingnoon

Today, Wednesday (the 30th), it will gradually become cloudy from the morning and then it will rain all over the country. The rain is expected to start from Jeju in the morning and spread to some southern regions in the early followingnoon and the whole country in the late followingnoon. The rain will continue until tomorrow morning, and the expected precipitation for two days is 5 to 20 mm in Yeongdong and Jeju, Gangwon, and around 5 mm in other areas. The highest daytime temperature of 13 to 21 degrees Celsius and the fine dust concentration were predicted to range from ‘good’ to ‘normal’ for the entire area.

It was Kim Bong-gu, a reporter at Hankyung.com.

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