In the early morning of the 26th Beijing time, US stocks closed mixed on Monday, while the Dow closed slightly lower, and the Nasdaq and the S & P 500 closed at an all-time high. Investors will welcome earnings reports from a number of tech giants, Fed meetings and congressional debates on Biden's stimulus package this week. Some Republican lawmakers opposed the Biden stimulus, saying it was too big.

The Dow closed down 36.98 points, or 0.12%, at 30960.00; the Nasdaq was up 92.93 points, or 0.69%, at 13635.99; and the S & P 500 was up 13.89, or 0.36%, at 3855.36.

Technology stocks, which have performed well in recent days, have dived in intraday trading. FAANMG's six biggest technology stocks all fell in early trading, with Netflix Inc having the worst performance after closing down more than 1 per cent. Apple Inc rose more than 4% in early trading, hitting a new intraday high, but turned down in the short term at the end of early trading, closing up more than 2%, and Microsoft Corp both closed at a new high. Microsoft Corp and Facebook Inc closed up more than 1%, Alphabet Inc-CL C's parent company Alphabet rose nearly 0.1%, and Amazon.Com Inc closed slightly higher.

Tesla, Inc. rose more than 6.3% in early trading, breaking the $900 mark for the first time in history, and briefly fell at the end of the morning trading, closing up more than 4%, a record high. Apple Inc closed 2.8% higher, and both Tesla, Inc. and Apple Inc will announce their results on Wednesday.

Dan Ives, an analyst at brokerage Wedbush, raised Apple Inc's 12-month target price to $175. "Wall Street expects Apple Inc to report strong results on Wednesday because the company is expected to easily exceed market expectations," he said. Although Wall Street expects the company to produce about 220 million iPhone in 2021, based on the current trajectory, we believe that under optimistic circumstances, Apple Inc may sell more than 240 million iPhone. "

This week, 13 Dow 30 companies and 111S & P 500 companies will report results, including industry giants such as Apple Inc, Microsoft Corp, Netflix, Tesla, Inc., McDonald's Corp, Honeywell International Inc, Caterpillar Inc and Boeing Co.

Us earnings have been strong over the past two weeks. According to Bank of America Corporation, 73 per cent of the S & P 500 branches that have reported results beat expectations in terms of sales and earnings per share. Bank of America Corporation said the indicator was similar to the previous quarter, when the number of companies that beat expectations also reached a record level.

Some Chinese stocks dived in intraday trading. XPeng Inc. and NIO Inc., who had risen more than 6 per cent and 4 per cent in early trading, fell more than 8 per cent and 5 per cent respectively, closing down more than 3 per cent, while Bilibili Inc. (Bilibili Inc.), who had risen 8 per cent in early trading, fell more than 3 per cent at one point and closed up nearly 0.4 per cent. Baidu, Inc., who rose more than 3 per cent in early trading, once fell more than 4 per cent and closed up more than 0.8 per cent; BABA, who rose more than 2 per cent in early trading, turned short-term and closed up more than 1 per cent.

In the United States and abroad, the number of COVID-19 cases continues to increase, but many economists predict that the global economy will return to growth later this year.

"We continue to expect a consumption boom in mid-2021 and very strong economic growth throughout the year as mass vaccination reduces the risk of the virus and consumer spending is supported by fiscal stimulus," said Jan Hatzius, chief economist at Goldman Sachs Group. "

All members of the U.S. Senate will vote on Yellen's nomination for Treasury secretary on Monday. On Friday, the U.S. Senate Finance Committee unanimously approved Yellen's nomination.

The Federal Reserve will hold a two-day monetary policy meeting this week. Analysts believe that the Fed may take a conservative stance and wait for more data before making a decision.

The U.S. House of Representatives will submit a second bill to impeach Trump to the Senate as early as Monday.

U. S. President Joe Biden has ordered a travel ban on most non-U. S. citizens from South Africa. Travel restrictions on Europe and the UK have been extended in the wake of the COVID-19 outbreak.

There was a high degree of speculation in individual stocks such as game stations, and analysts said the market "could pull back at any time."

High speculation in stocks such as GameStop has unnerved some investors who fear that some parts of the market are detached from fundamentals and could have an impact on the market after the frenzy ends.

The game station closed more than 18% higher at $76.79 on Monday. Shares in the brick-and-mortar video game retailer soared more than 140 per cent on Monday morning, rising as much as $159.18 as a large number of retail investors in online chat rooms actively traded and tried to crush short sellers. The stock briefly fell in the morning, falling as low as $61.13.

Also driven by frenzied buying, other stocks with heavy short selling, including Bed Bath&Beyond, also rose on Monday, surging more than 50% at one point, rising as high as $47.73. The stock closed up 1.6% at $30.68.

With regard to the soaring stock price of Game Station, Jim Cramer, a famous financial commentator, said that "the market mechanism is collapsing".

Mark Hackett, head of investment research at Nationwide, said: "signs of excessive stock market gains continue to worry investors, and the US stock market is near record highs in a variety of valuations. There are signs of extreme optimism, including call option ratios, credit spreads and momentum indicators. "

Julian Emanuel, head of equity and derivatives strategy at BTIG, said that the current surge in options trading in the US stock market and bubble buying in some high-rise stock trades are very similar to the bursting of the tech bubble in 2000. He said that if the market behaved in the same way, the S & P could rise to 5047 before the end of the bull market, but he did not predict such a big rise.

Most strategists expect the S & P 500 to close higher this year, but many do expect at least one correction at the beginning of the year.

"We do not see any definite sign of a medium-term peak in the US stock market, but market volatility leads us to believe that the current situation is similar to that of 1999-2000 and that the market could pull back 10 to 15 per cent at any time," Emanuel said. Judging from the level of speculation we are seeing now, retail investors are generally as optimistic as they were 20 years ago. Given current valuations, there are several potential conditions for a rapid and brief correction in the stock market. "

Us stocks fell sharply on Monday, with the S & P 500 falling below 3800 from 3855 and the VIX panic index rising 20 per cent at one point, causing several trading platforms to collapse. While Wall Street is talking about a stock market bubble, Goldman Sachs Group said that some markets are in a bubble, but when the bubble bursts, it is unlikely to drag down the whole market.

The Biden stimulus package will be heard in Congress and is expected to face challenges.

The market focus will shift to Washington this week, with President Joe Biden expected to push harder for congressional debate over his $1.9 trillion anti-epidemic rescue plan. But after the US passed a stimulus package of more than $3tn last year, another massive stimulus could face challenges.

In a phone call with White House adviser Brian Deese this weekend, a bipartisan group of members of Congress refuted the scale of Biden's proposed plan, US media reported on Monday.

Biden's plan, which includes a new round of stimulus checks for most Americans and aid to state and local governments, raised concerns last week. At last Tuesday's confirmation hearing on Yellen's nominee for Treasury secretary, some senators hesitated about whether the Biden stimulus package should be approved, arguing that it did not fully target the personal and economic areas that needed help most during the epidemic.

Lachlan Shaw, head of commodities research at NAB, said Republican lawmakers were opposing the details of the bailout, "so it is worrying when it will be passed." However, the distribution of vaccines in the United States has encountered some problems, which is good for the introduction of the rescue program.

Market analyst Jeff Cox wrote that in the context of the U.S. economic recovery, President Biden's $1.9 trillion stimulus package may be too large, most of the spending is aimed at those who do not need it, and too much stimulus can lead to inflation and other problems.

Biden to sign an executive order to increase federal procurement of American-made products

U.S. president Joe Biden will sign an executive order on the 25th local time to impose stricter rules on government procurement to increase purchases of U.S.-made products.

The executive order is reported to be aimed at reducing exemptions from government procurement provisions that allow the purchase of foreign products. It will include tightening government procurement rules, making it harder for federal agencies to buy imported products, redefining American-made products and ensuring that small and medium-sized enterprises have better access to the information they need to bid for government contracts.

According to the report, the Biden administration will appoint a senior official in the White House Office of Administration and Budget to supervise the implementation of the executive order. It is reported that in the future, federal agencies will report progress in purchasing products from American manufacturers, and domestic companies can also use a website to check whether the federal government has actually fulfilled the contract.

According to the report, the COVID-19 epidemic exposed weaknesses in the distribution system of key medicine and safety equipment in the United States, and a senior official in the Biden administration said that one of the purposes of the "Buy American" policy is to strengthen the US supply chain.

The Buy American clause can be traced back to the Buy American Act of 1933 passed by Congress during the Great Depression in the 1930s. The bill requires the federal government to give priority to American goods in procurement in order to support American industry and American workers. But the bill also includes a number of exceptions, allowing the federal government to purchase foreign products when domestic products are in short supply, when procurement costs are too high, or when they are not in the public interest.

Prior to this, former US President Donald Trump signed an executive order "Buy American goods and hire Americans" in 2017, calling for changes in visa policy and measures to allow the government to purchase more domestic goods.

Fauci: the postponement of the second dose of COVID-19 vaccine is worrying, or it may provide an opportunity for the mutated virus.

Anthony Fauci, head of infectious diseases in the US government, said he was worried about delaying the injection of the second dose of COVID-19 vaccine. The director of the National Institute of Allergy and Infectious Diseases said on Monday that it was best to follow the schedule recommended in clinical trials.

Fauci said: "I am more worried because the human body will not be fully protected until after the second dose of the vaccine, and delaying the second injection may also provide opportunities for more mutated viruses." "

Governments around the world are working to strengthen vaccination programmes to curb the spread of worrisome new mutations. France recommended doubling the interval between two doses of the vaccine on Saturday after the US Centers for Disease Control and Prevention said it could extend the interval to up to six weeks.

Britain was the first country to adopt this controversial approach. The interval of vaccination designed and tested by Pfizer Inc / BioNTech SE,Moderna Inc is 21 and 28 days respectively. There is no data to show that the protective effect of the first vaccination is sustainable after the second recommended vaccination time. The COVID-19 vaccine, developed by Oxford University and AstraZeneca PLC, has a relatively larger injection interval in clinical trials.

"although the efficacy of the vaccine is strong enough and is expected to work well against mutated viruses in South Africa and the UK, the vaccine faces a greater threat in the future," Fauci said. He says vaccine developers need to adjust the vaccine to deal with the variant virus. Researchers and other health officials say such changes to many vaccines could be completed within weeks.

Over the weekend, it was reported that the lethality rate of mutated strains found in the UK may be higher, and there are reports that Europe may tighten border restrictions and extend the blockade. Investors worry that stricter blockade restrictions last longer and could cause longer-term economic damage.

Fauci's remarks come as the cumulative number of infections in the United States has exceeded 25 million. At the same time, the supply capacity of COVID-19 vaccine manufacturers has been questioned.

Focus stocks

Baya, an investment bank, raised Tesla, Inc. 's target price to $728.

AMC cinema shares rose. Since mid-December, AMC has received $917 million in new investment.

BlackBerry shares soared. According to reports, the company has reached a settlement with Facebook Inc over the dispute over SMS APP.

Game stations rose sharply after brokerage Wedbush said it was still very optimistic that game stations would return to profitability in fiscal year 2021.

Merck & Co Inc stopped developing novel coronavirus vaccine candidates.

Other markets

Gold futures prices fell for the third consecutive day on Monday. Us bond yields fell and the dollar strengthened ahead of the Fed's monetary policy meeting.

Edward Moya, senior market analyst at Oanda, said gold futures prices rose at one point on Monday morning because "the market expects the Fed to reconfirm its dovish policy position this week, while news such as COVID-19 vaccine and blockade have raised the possibility of more fiscal and monetary stimulus policies around the world. "

He said that before the Fed meeting, "Gold may close in the range of $1850 to $1900." "

Edward Moya believes that given the "dovish comments" of Federal Reserve Chairman Powell and Treasury Secretary nominee Yellen, the outlook for gold prices "remains very optimistic. He added: "the fiscal negotiations in the coming weeks will be crucial to the short-term outlook for gold prices. "

Gold futures for February delivery on the New York Mercantile Exchange fell $1, or nearly 0.1%, to close at $1855.20 an ounce.

Silver futures fell 7 cents, or 0.3%, to close at $25.484 an ounce.

Crude oil futures closed higher on Monday. According to reports, Iraq plans to increase production cuts, payment disputes may disrupt Libyan crude oil production, so that oil prices are supported.

Bjornar Tonhaugen, head of the Rystad Energy crude oil market, said: "it is surprising that other member states have little hope for Iraq to comply with the production reduction agreement, but the country has promised to cut production in January and February to make up for the excess production quota in 2020. "

According to news reports, Iraq plans to cut production to 3.6 million b / d in January and February, below the 3.86 million b / d allowed by the Organization of Petroleum Exporting countries and its allies (OPEC+).

Analysts said that if Iraq managed to meet its promised production reduction target, it would be the lowest crude oil production in the country since 2015, but given the country's previous record of substandard production reduction, there is no guarantee that it will also meet the production reduction target this time.

West Texas Intermediate (WTI) for March delivery rose 50 cents, or 1%, to $52.77 a barrel on the New York Mercantile Exchange.

Brent crude for March delivery by Intercontinental Exchange Inc in London rose 47 cents, or nearly 0.9%, to close at $55.88 a barrel.