In the early morning of the 25th Beijing time, US stocks maintained a rising trend late Tuesday, breaking through the 15000-point mark for the first time in history. Pfizer Inc-the news that the BioNTech vaccine was fully approved by FDA boosted market confidence. Investors are waiting for the annual meeting of the Federal Reserve in Jackson Hole.

The Dow was up 94.75 points, or 0.27%, at 35430.46; the Nasdaq was up 74.74, or 0.50%, at 15017.39; and the S & P 500 was up 11.76, or 0.26%, at 4491.29.

On Tuesday morning, the Nasdaq rose as high as 15027.16, while the S & P rose to 4492.11, both hitting new intraday highs.

Chinese stocks are generally higher, PinduoduoUp more than 20%, Tencent MusicUp 13%, JD.com IncUp 14%, Baba.Up 6.5%.

Analysts say the rally in US stocks is not driven by any single reason.

Michael Brown, senior market analyst at Caxton FX, said: "for now, US stocks do not fall much every time, and every time they fall, funds are quickly buying dips. The 50-day moving average of the main stock index is closely protected by bulls, and the market can hit an all-time high every three or five times."

"after a big rally, the market is trying to find direction and people are asking, what is the next catalyst to push the market higher?" said Strich, chief investment officer at BMO Wealth Management. What risk factors will make investors hesitate? "

Schools at the Pentagon and New York City immediately began requiring people to be vaccinated after the US Food and Drug Administration (FDA) formally approved the coronavirus vaccine made by Pfizer Inc on Monday. The U.S. Department of Defense will force the whole army to be vaccinated against the vaccine.

Naeem Aslam, chief market analyst at AvaTrade, said: "people are optimistic that the FDA's full approval of the Pfizer Inc vaccine will become another basis for accelerating economic growth, which will restore the rally in the stock market, which has been accelerated by the Delta mutant strain."

Ryan Detrick, chief market strategist at LPL Financial, said that given the recent surge in new cases and disappointing economic data, this is a step in the right direction and will help boost confidence among people who do not want to be vaccinated.

With the rapid spread of the new Guandalta strain, US economic growth has slowed recently, with the composite purchasing managers' index released on Monday falling to its lowest level in eight months.

U.S. monetary policy makers are likely to elaborate on their plans to scale back their $120 billion-a-month bond purchases at the upcoming annual meeting of the Federal Reserve in Jackson Hole on Thursday. Federal Reserve Chairman Colin Powell will deliver a keynote speech at the meeting on Friday. Based on past experience, Powell is widely expected to provide clues as to when and how to scale back bond purchases.

Analysts pointed out that if Powell sends a clear signal to scale back bond purchases, this may put downward pressure on US stocks. Gunrake, founder and chief executive of DoubleLine Capital, known as the "new debt king", hinted that investors might be wise to invest cautiously in US stocks at a time when the Fed was about to begin to scale back its bond purchases.

On the potential impact of the Fed's reduction in bond purchases on the market, Mr Gunrake said: "this will definitely have a negative impact on the stock market." The Fed is widely expected to hint at the start of its pandemic bond-buying program at the annual meeting of the central bank in Jackson Hole later this week.

Powell's term as chairman of the Federal Reserve is coming to an end. There are also reports that US Treasury Secretary Janet Yellen supports Powell's re-election. U.S. president Joe Biden will make a decision on the choice of Fed chairman around Labor Day (September 6).

Pfizer Inc-BioNTech COVID-19 Vaccine fully approved by FDA

On Monday, the US Food and Drug Administration (FDA) announced that it had approved the full use of the COVID-19 vaccine jointly developed by Pfizer Inc and BioNTech for people aged 16 and over. The vaccine became the first COVID-19 vaccine to be fully approved after obtaining Emergency use Authorization (EUA).

Pfizer Inc-BioNTech COVID-19 vaccine was licensed for emergency use in people aged 16 and over on December 11, 2020. On May 10 this year, the scope of authorization of the vaccine was extended to people between the ages of 12 and 15, and within the same month, Pfizer Inc and BioNTech submitted an application for full approval of the vaccine to regulators.

So far, Pfizer Inc has received more than 200 million doses of vaccination, according to data compiled by the Centers for Disease Control and Prevention (CDC). At present, more than 170 million people in the United States have received two doses of the vaccine, and about 100 million people have been vaccinated against Pfizer Inc. BioNTech said that since it was authorized for emergency use in December last year, it has provided more than 1.2 billion doses of COVID-19 vaccine to more than 120 countries or regions around the world.

Janet Woodcock, acting director of FDA, said: "FDA's approval of this vaccine is a milestone. Although millions of people have been safely vaccinated with COVID-19, full approval will further enhance public confidence in vaccination, which is one step closer to ending this pandemic."

In order to apply for full approval, Pfizer Inc and BioNTech submitted data on 44000 clinical trial participants to FDA. The data show that the vaccine is 91 per cent effective against COVID-19, which is slightly lower than the 95 per cent effectiveness announced when emergency use was approved last year.

Pfizer Inc had previously said he was working on a vaccine specifically against Delta mutants, but Albert Bourla, chief executive of Pfizer Inc, said on Monday that this was not necessary and that the current vaccine was very effective. "We are producing a specific vaccine for the Delta mutant, but I'm almost sure we don't need it," Bourla said. "

Focus stocks

TeslaChief Executive Musk said on Monday that the company's latest experimental version of its autopilot system (FSD) was "not very good". Musk also said that the company's autopilot team is optimizing the system as fast as possible and is trying to stack highways and city streets, but that doing so requires large-scale neural network training.

American retail giant Walmart IncIt was announced on Tuesday that it will launch a delivery service called GoLocal, whose platform drivers will also deliver goods to other merchants and is expected to begin operation at the end of 2021, including new technologies such as self-driving cars and drones.

IntelAnnounced that it has reached an agreement with the US Department of Defense to provide wafer foundry services to the US Department of Defense to meet the semiconductor circuits and wafer needs of the US Department of Defense.

Cyber security company Palo Alto Networks reported better-than-expected revenue growth.

The US Food and Drug Administration (FDA) approved Korsuva injection from Cara Therapeutics, a biopharmaceutical company, for the treatment of pruritus in hemodialysis patients.

In addition, FDA also approved the new drug research application of BP1002, a drug from Bio-Path Holdings, a biopharmaceutical company.

Biopharmaceutical company Tonix Pharmaceuticals plans to submit applications for new drug research to support Phase 2 clinical trials.

Heritage Global, an asset appraisal and clearing service, announced the acquisition of American Laboratory Trading on undisclosed terms.

CrowdStrikeThe company will join NASDAQ on August 26.100 index.

Pinduoduo Q2 made a profit of 1.69 yuan per ADS in 2021, and the market expected a loss of 1.64 yuan, compared with a loss of 0.75 yuan in the same period last year.