Close to the record. As the earnings season comes to an end, the market continues to look for direction. The U.S. fiscal stimulus package, presidential election and international relations have attracted attention. The NASDAQ index rose to 11144.53, a record high in the session. Google’s parent companies alphabet and Microsoft led the Nasdaq’s gains. Amazon rose 1.4% after several media reports said it wanted to buy a stake in Rackspace technology, a cloud technology company. < / P > < p > the S & P 500 index is very close to its all-time high close and intraday record of 3386.15 and 3393.52, respectively. Some analysts made cautious comments. Emily Roland, CO chief investment strategist at John Hancock investment management, said: “it’s amazing that the S & P 500 is close to its all-time high. But the market is now ignoring many significant risks. As far as Washington’s fiscal stimulus is concerned, tensions continue. In addition, international relations are tense again. We must also bear in mind that the US presidential election will be held in 82 days. ” “As a result, we are going to have a very volatile political environment in which situations are already exhausting,” says Emily Roland. At this stage, American stocks have been priced perfectly. The expected P / E ratio of the S & P 500 is 22 times future earnings, and investors really ignore these significant risks. ” < p > < p > non essential consumer goods led the S & P 500 index up. Gold plate generally rose. Late last week, documents showed Warren Buffett’s Berkshire Hathaway increased its stake in gold in the second quarter. Analysts at Goldman Sachs said last week that the S & P 500 index is expected to rise to 3600 this year, given the accelerated economic growth in the United States and a promising vaccine outlook. David kostin, chief equity strategist at Goldman Sachs, raised his forecast for this year’s S S & P 500 index from 3000 to 3600 in a recent research report. Previously, institutions such as RBC Capital Markets and Yardeni research also raised their index expectations accordingly. Kostin pointed out that the trend of the past few months has fully proved that the security price is not only based on the expectation of future revenue, but also the discount rate of future income. Next, it is expected that the impact of the decline in stock risk premium will exceed the rise in bond yields, and add to the expectation that the company’s EPS will be raised. These factors will push the S & P 500 index up to 3600 at the end of the year. From the fundamental point of view, the large-scale liquidity injection has driven the stock price up since the coronavirus epidemic hit the stock market and caused a big drop. Better than expected economic data and company revenue data, as well as the expectation of vaccine listing earlier, all contributed to the rise of US stocks. Kostin said the U.S. election is a significant risk to stock price expectations, but the timing of the vaccine and the path of economic recovery remain the biggest uncertainties. < / P > < p > research director Tom Lee of fundstrat last week raised the price target of the S & P 500 index by 75 points to 3525, reflecting the potential of “re opening” concept stocks, which he believes are expected to catch up with the gains in other industries in the past few years. < / P > < p > the U.S. political arena will usher in a momentous event – the start of the four-day US National Congress; on August 24, the same four-day Republican National Congress will officially be held. Affected by the coronavirus epidemic, the major meetings of the Republican Party and tens of thousands of people in the past years will be moved to the Internet instead of large-scale offline meetings. < p > < p > the US National Congress (NDC) held an important virtual meeting this week. The Congress will nominate former Vice President Joe Biden and California Senator Kamala Harris as the presidential and vice presidential candidates in 2020. < / P > < p > starting from Monday night local time, the four-day National Congress will take the lead in Milwaukee, Wisconsin, which is located in the central swing state. < p > < p > it is reported that the conference will be broadcast live on television and online every night from August 17 to August 20 at 9:00 p.m. Eastern time (9:00 a.m. Beijing time). In the four-day conference, many of the heavyweights will make speeches on the stage one by one. Most of the audience will participate and watch online, and most speakers will also deliver their speeches online. During the National Congress, starting from August 17, U.S. President trump will deliver campaign speeches in Wisconsin and Minnesota to restart his campaign. On August 18, trump will travel to Arizona on air force one to deliver a speech on line day in Scranton, Pennsylvania, where Biden was born. The trump campaign said the theme of his speech this week will “highlight the failure of presidential candidate Biden.”. According to the poll, Biden leads trump by 41% with 50% support. However, according to the report, the final decision is likely to be which of the two parties can improve their voter turnout. In view of the fact that more people are unable or unwilling to vote at polling stations due to the epidemic situation, it has become the focus of the two parties to attack and defend in the near future who can take advantage of the postal voting. According to the Pew Research Center poll, despite the severe epidemic situation, 80% of the voters who support trump tend to vote at polling stations, while nearly 60% of those who support Biden prefer to vote by mail. Trump recently used every opportunity and occasion to accuse mail in voting of fraud and other problems, and even said that he would not approve more money to USPS because it would be used to “cheat” votes. On the impact of the presidential election on the market, Wall Street experts believe that investors may take the opportunity to adjust their portfolios to prepare for the US presidential election. Although the current market may not reflect the relevant situation of the U.S. election, because the coronavirus epidemic and the United States to promote fiscal measures and other issues dominated the market earlier. However, market conditions in the coming weeks are likely to focus more on the election. Michael Novogratz, the U.S. billionaire and founder and CEO of Galaxy digital capital management, believes that if Biden is elected president of the United States, the continued rise in the US stock market may come to an end. In terms of the financial stimulus plan for virus relief, both houses of Congress have entered the August recess and will not return to Washington until mid September. Top negotiators from both parties in Congress have not discussed fiscal stimulus for more than a week. The market is also paying close attention to the development of international relations. According to reports, the first phase of the trade agreement terms meeting, originally scheduled for Saturday, has been postponed indefinitely. According to media reports on Friday, China’s state-owned oil companies have temporarily ordered tankers to return at least 20 million barrels of U.S. crude oil in August and September. This week’s financial report is coming to an end. Many major retailers, including target (TGT), Wal Mart (WMT), Home Depot (hd) and Lloyd’s (low), will still report results, but this week’s quarterly corporate earnings report will end. This week’s important economic data include a series of housing market data, including monthly housing starts, construction permits and second-hand housing sales reports. The Federal Open Market Committee (FOMC) will release the minutes of the July monetary policy meeting on Wednesday. Amazon has been investigated by German authorities for alleged abuse of market position during the outbreak. Amazon is reported to be under investigation into its relationship with third-party sellers, led by the German Federal Cartel Office. < p > < p > Haina international raised the NVIDIA target price from $450 to $540. Oppenheimer raised the NVIDIA target price from $400 to $500. According to the third point 13F announcement of well-known hedge funds, funds increased their holdings of Baba, Jingdong, Facebook, Nike and Activision Blizzard in the second quarter. The announcement that Berkshire Hathaway, owned by Mr. Buffett, increased its holdings of Barrick gold Corp., the world’s second-largest gold miner, in the last quarter also boosted interest in gold. < p > < p > last week, gold came under pressure as US Treasury yields climbed to eight week highs as higher Treasury yields weakened gold’s appeal. However, gold bulls insist that the economic uncertainty created by the coronavirus pandemic makes gold and silver a long-term and reliable bet, especially when countries are spending trillions of dollars to support their economies. The yield on U.S. Treasury bonds fell on Monday, with the yield on 10-year Treasury bonds falling to 0.676%. The ice dollar index (DXY) also fell. The fall in Treasury yields and the dollar boosted gold prices, as gold did not provide a yield, and the fall in the dollar made gold relatively cheaper for buyers using other currencies. < / P > < p > some experts believe that the recent correction of gold and silver is consolidation before entering the next stage. Last Tuesday, gold futures prices fell sharply, making gold prices fall last week. Gold futures for December delivery on the New York Mercantile Exchange rose $48.90, or 2.5%, to $1998.70 an ounce. Today’s gold futures prices hit the biggest one-day rise since April 22, with dollar numbers and dollar gains. < p > < p > crude oil futures prices closed higher on Monday, shaking off the early decline. It is reported that China will increase overseas crude oil imports and most of OPEC + member countries complied with production quotas last month, which supported oil prices. WTI futures for September delivery on the New York Mercantile Exchange rose 88 cents, or 2.1%, to $42.89 a barrel. October Brent crude oil futures rose 57 cents, or 1.3%, to $45.37 a barrel on intercontinental London, the benchmark for global crude oil prices. According to media reports on Monday, the number of production cuts by the organization of Petroleum Exporting Countries (OPEC +) and its allies (OPEC +) reached 95% to 97% of the agreed quota in July, with a record high compliance rate.