A total of 24,324 confirmed cases, 892 cured and discharged from hospital, 490 deaths and a second consecutive day of decline have been reported nationwide, according to the latest data from the national health and construction commission on Wednesday. Overnight, U.S. stocks rallied, the yen and Swiss franc continued to fall, and spot gold briefly plunged more than $20 to below 1,550 as the Chinese government took steps to reduce the economic impact of the coronavirus outbreak. During the session, markets focused on the upcoming trump state of the union address, as well as European central bank President Christine Lagarde and “small non-agricultural” ADP employment data in the evening.
Latest data: 3,887 new cases were diagnosed and 24,324 deaths were confirmed and 490 cases were cured and discharged 892 cases
The latest data according to the national guard is built appoint, on February 4, 0-24, 31 provinces (autonomous regions and municipalities directly under the central government) and the xinjiang production and construction corps report new confirmed cases, 3887 cases (3156 cases), hubei province, the new severe cases 431 cases (377 cases), hubei province, the new death cases, 65 cases (65 cases), hubei province, the new hospital cured cases 262 cases (125 cases), hubei province, the new suspected cases 3971 cases (1957 cases) of hubei province.
24 to February 4th, national health committee received 31 provinces (autonomous regions and municipalities directly under the central government) and the xinjiang production and construction corps has reported 24324 cases of confirmed cases (hainan subtract 1 case), the existing 3219 cases of severe cases, death cases of 490 cases, cure the hospital cases 892 cases (hainan, subtract 1 case), hubei province, the existing 23260 cases suspected cases.
So far, a total of 252,154 close contacts have been traced, and 18,457 people have been released from medical observation on the same day. Currently, 185,555 people are under medical observation.
A total of 39 cases have been reported from Hong Kong, Macao, and Taiwan: 18 from the Hong Kong special administrative region (1 death), 10 from the Macao special administrative region and 11 from the Taiwan region.
It is worth noting that from 0 to 24:00 on February 4, 31 provinces (autonomous regions and municipalities directly under the central government) and the xinjiang production and construction corps reported 3,971 new suspected cases (1957 cases in hubei province). It was the second consecutive day that the number of new suspected cases fell. Previously, there were 5,173 new suspected cases on February 2 (3,260 in hubei province) and 5,072 new suspected cases on February 3 (3,182 in hubei province).
At the 146th who executive board meeting on the new coronavirus on 4 February, who director-general tande said that with 99 percent of cases now in China, who will continue to work closely with the Chinese government, which is the best chance to prevent the outbreak from spreading into a global crisis.
Mr. Tandsai stressed again that restrictions not in line with the ihr should not be imposed, which would not benefit public health. Currently, 22 countries have adopted restrictions that are inconsistent with the ihr, only to increase the fear. The intensive measures taken by China at the epicenter of the epidemic have created a window of prevention for the world. We hope that all countries will take united actions to control the epidemic without panic.
The people’s Bank of China continued to take steps to stabilize the market as the effects of the combined treatment began to show. The people’s Bank of China said on Tuesday that the open market on Monday, a record one-day reverse repurchase 1.2 trillion yuan after the operation, today continue to adequate supply of liquidity and reverse repurchase operation on the capital of 500 billion yuan, two days on the liquidity accumulative total is 1.7 trillion yuan RMB, fully shows that central bank to stabilize market expectations and determination to boost market confidence.
Mazen Issa, the senior foreign-exchange strategist at TD Securities, said, “there’s been some optimism about the pboc pumping money into the market. This is a strong signal that China is willing to support financial markets in this regard to limit the impact of the outbreak. But this is very short-term and nothing has been done about supply chain disruptions.”
U.S. stocks rose overnight as investors took heart from Beijing’s efforts to curb the spread of the coronavirus and limit its economic impact, boosting risk appetite.
The NASDAQ hit a record high on Tuesday, the s&p 500 posted its biggest one-day gain in about six months and the dow jones industrial average posted its biggest one-day gain in more than five months.
It is worth mentioning that on Tuesday, tesla rose more than 22% intraday and its stock price peaked at $968.99, then fell back to below $900 in late trading. So far this year, Tesla has gained more than 112% and its market value has been close to $160 billion.
The strength in U.S. stocks also extended to Asian markets, with Japan, South Korea, and Australia opening higher.
Lindsey Bell, the chief investment strategist at Ally Invest, said: “The market is just looking beyond the coronavirus outbreak and they are cheering China’s move in the financial sector. “History tells us that whenever a virus causes any kind of pandemic or any kind of global threat, what we see is that the market will bottom out.”
Gold prices took a beating overnight as China’s efforts to mitigate the economic impact of the coronavirus outbreak pushed some investors out of safe-haven assets and back into riskier assets.
Spot gold fell sharply from a high above 1570 on Tuesday, dropping more than $20 to around $1548 before continuing to hover just above 1550 in early Asian trading on Wednesday.
“The dramatic moves in global equity markets, particularly in the United States, clearly indicate that there is less concern that the coronavirus outbreak is undermining GDP growth, and we have less demand for safe-haven assets,” said David Meger, head of metals trading for High Ridge Futures.
George Gero, managing director of RBC Wealth Management, said in a note that gold should remain in the $1,550 to $1,600 range until there is more political and economic news.
Trump’s speech is about to begin
At the invitation of house speaker Nancy Pelosi, President Trump will deliver his state of the union address to the U.S. congress at 21:00 p.m. on Tuesday, February 4 (10:00 Wednesday Beijing time).
Senior White House officials say President Trump will be “resolutely optimistic” to tell congress that America is strong again and that he has kept his promise. He will talk about five things: 1. Blue-collar prosperity. The U.S. -China trade agreement, the U.S. -Canada trade agreement, and U.S. energy independence will be discussed. 2. Help salaried families. President Trump will talk about helping American families, making sure every child has access to education, supporting family vacations and child care. 3. Lower health care costs. President Trump will propose a plan to lower drug prices and reform the health care system so people can choose the doctors they want. Safe and legal immigration. He will highlight the success of his administration’s policy on the southern border and the threat posed by sanctuary cities. Protecting the security of the United States. Senior officials say President Trump will talk about U.S. diplomatic and military efforts around the world. Instead, he will talk about the Iranian military general Omar Suleiman who was killed by the United States, calling him a terrorist, to highlight U.S. efforts to combat terrorism.
This is the second time a U.S. President has delivered a state of the union address in the midst of an impeachment campaign since Bill Clinton. Mr. Trump will use the speech to rally support for his re-election bid by trumping his record on economic and immigration policy.
Trump will offer to work with his political opponents on such livelihood issues as reducing health care costs, drug prices and rebuilding infrastructure, sources said, but as this is an election year, no major legislative action is expected.
Some Republican senators have warned Mr. Trump not to mention impeachment in his state of the union address, ahead of a Senate vote on Tuesday. There was no word for impeachment in the speech, White House officials said.
The New York Times reported Thursday that Trump is expected to curb his anger over impeachment and call on Congress to enact legislation to advance the administration’s policy goals.