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Wall Street continues on a roll and marks new highs after good data from China


Nothing new under the sun. Wall street keep buying and mark historical highs again. To the good business results and the signature of the 'Phase 1' trade agreement between the US and China The good macroeconomic data published by the Asian giant, which closed 2019 with a 6.1% growth, in line with expectations. So far this year, the Dow jones rebounds 2.7%, the S&P 500 rises 2.9% and the Nasdaq advances 4.3%.

China grew at a rate of 6.1% in 2019, five tenths less than in 2018 (6.6%), its weakest expansion rate since 1990, although in line with the target set by Beijing, which expected an increase of between 6% and 6.5%.

Besides, the Industrial production December advanced 6.9%, above the anticipated 5.9%. Finally, the retail sales of the same period they advanced 8% and exceeded the forecast of 7.8%.

"The economic activity data for December show an improvement in investment and industrial production and a stable growth in retail sales. We expect a sequential stabilization of cyclical economic factors in 2020, while the structural slowdown will continue beyond 2020", the analysts of the Swiss bank Julius Baer point out.

Their forecast is that the authorities maintain their prudent policy and continue with calibrated flexibility, "focusing on quality and reforms rather than short-term growth rates and tolerating lower growth levels."

In the US, building permits December have been slightly lower than expected, but the home developments They have far exceeded the forecast. In addition, industrial production for the last month of 2019 fell 0.3%, compared to the expected fall of 0.2%.

Finally, the January preliminary consumer sentiment index, prepared by the University of Michigan, has fallen slightly to 99.1 from 99.3, in line with expectations. In negative, the JOLTS survey job offers They have unexpectedly dropped to 6.8 million, well below the anticipated 7.22 million.

On the trade agreement signed this week by the US and China, Ian Samson, Fidelity analyst, states that "it does not reveal no credible roadmap"Instead, says this expert, the two sides have opted for a minimum pact." Risk assets should benefit from the absence of large holders in the coming months, but investors they should not lose sight of the risk of disappointment and future escalation"says Samson.

Within the business front, attention to Alphabet. The matrix of Google He entered Thursday in the select club of the trillion dollars of capitalization along with the other two members: Manzana Y Microsoft.

In other markets, oil West texas up 0.4%, to 58.76 dollars, while the ounce of gold rebounds 0.38%, to 1,556 dollars, after the supreme ayatollah of Iran, Ali Khamenei, I commented that Trump is a "clown" who "will drive a poisoned dagger" to the Iranian people.

For its part, the euro 0.11% is appreciated and changed to $ 1,1136 after the latest positive economic data. Finally, the profitability of 10-year American bond It rises to 1.80% and the 2-year bond increases to 1.57%.

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