On the evening of the 17th Beijing time, US stocks opened higher on Monday. The S & P 500 is once again approaching its all-time high. The market is concerned about such factors as the US presidential election and international relations. It is said that the United States delayed the evaluation of the economic and trade agreement, easing the market’s concerns about the deterioration of the international economic and trade environment before the election. Before Monday, the S & P 500 had an all-time high of 3386.15 and an intraday record of 3393.52. Currently, the S & P 500 is less than 1% from its February high, with some analysts making 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. Now the stock is priced perfectly. The expected P / E ratio of the S & P 500 is 22 times future earnings, and investors really ignore these significant risks. ” Gold futures rose after falling below $2000 on Friday, the first week’s decline since June. 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. Similar to RBC capital market, Yardeni research also raised the 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, since the epidemic hit the stock market and caused a big drop, large-scale liquidity injection has driven up the stock price. 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. The U.S. election remains a significant risk to stock price expectations, but the timing of the vaccine and the path of economic recovery remain the biggest uncertainties, kostin said. < / 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. < / P > < p > the US National Congress (NDC) will hold 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. 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 > 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. For more than a week, there was no discussion of the fiscal stimulus package between top negotiators from both parties in Congress. < / P > < p > the market is also paying close attention to the uncertainty of international relations. According to reports, the first phase of the trade agreement terms meeting, originally scheduled for Saturday, has been postponed indefinitely. This week’s financial report is coming to an end. Many major retailers, including TGT, WMT, HD and low, will still report results, but the corporate earnings season will end this week. 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 its July meeting minutes 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.