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Wall Street continues buying and the Nasdaq caresses its record despite the riots


Gentle gains in Wall street after a bearish open and after the S&P 500 close may with a 4% monthly profit. The main world indicator is listed at 3,060 points and at 10% of its historical maximum of mid-February, located in 3,393 points. For his part, the Nasdaq it advances to 9,560 points, very close to its record of 9,838 integers.

On an economic level, the ISM manufacturing for May It has rebounded to 43.1 from 41.5, although it has fallen below the anticipated 43.6 and is still in contraction territory.

In addition, the new orders indicator has risen to 31.8 from 27.1, but has advanced much less than the 40.3 forecast. "With the increasing number of companies restarting production, we should see some improvements in the coming months, and it is reassuring to see signs that the recession is already beginning to diminish, "said Chris Williamson of IHS.

But not everyone is so optimistic, "nothing that has happened since Friday's close has been positive for the market, " The experts from National Securities acknowledge, also referring to the riots that have spread throughout the United States in protest at the death of George Floyd.

"When you think seriously about China-USA and add to it the crisis that almost every major city in the world is facing right now, we wouldn't be surprised if the market takes a breather," they add.

"The biggest risk that stock markets face is a second wave of the outbreak," recognized from BCA Research. "If contagions escalate again, risk assets will suffer the most," they clarify. "Even if a vaccine doesn't arrive until the end of the year, tests should allow for a better containment strategy," they say.

More of six million cases have been diagnosed on a global scale. Of these, 1.7 million are in the US, according to the data provided by the country itself. Novavax, one of the most promising companies in relation to a potential vaccine, continues with its Phase 1 clinical trials.

At the corporate level, one of the most outstanding values ​​is Tesla. US company shares up more than 5% after Elon Musk has successfully launched the Crew Dragon rocket from the SpaceX company, of which he is also CEO.

Further, Zoom continues unstoppable. The actions of the video calls 'app' have exceeded $ 200 this Monday for the first time in their history.

Across the Atlantic, the Ibex has started the month with increases of 1.7% and MásMóvil shot at the takeover bid of KKR, Cinven and Providence. Finally, in Asia, the stock markets have closed with strong spikes in the heat of the good macro data released by China. The PMI services for May it has risen to 53.6 from 53.2, its highest level since the pandemic began. And the Manufacturing PMI It has rebounded to 50.7 from 49.4 and has been located in expansive territory.

In other markets, the West Texas oil falls 0.6% to $ 35.26, after closing May with a 90% gain, the highest in its history. Besides, the ounce of gold falls 0.1% to $ 1,750, while the euro 0.26% is appreciated and it is changed to 1,1127 dollars. Finally, the profitability of 10-year American bond it rises to 0.67%.


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