Wall street prolongs its historic rally and the Nasdaq it renews its historical maximums near 10,000 points, while the Dow Jones strengthens the 27,000 integers and the S&P 500 consolidates over 3,200 points. The investor's view is divided this Monday on two fronts: on one side, the agreement of the OPEC + and, on the other, the possible fusion between AstraZeneca and Gilead.
Within Wall Street, the values that rise the most are precisely those that have fallen the most due to the coronavirus crisis. Hoteliers, cruise lines, airlines … they all celebrate the reopening of the country and the world's largest economy.
It is the case of Boeing, which shoots up 11% in the Dow Jones after receive a purchase advice from Goldman Sachs, with a target price of $ 238 (compared to $ 209 previously).
Tesla is also in luck. Elon Musk's company is at record highs after China has announced that car sales have grown in May. It is the first positive figure after almost a year on the downside.
The recovery in employment is also pushing the main indexes, even more after the blow on the table last Friday. US created 2.5 million jobs in May, compared to the expected losses of 7.5 million jobs. The data, surprisingly good, has given a new boost to world stock markets since last Friday.
"It appears that the most sudden bear market in history has been followed by a similar recovery," analysts at Chaikin Analytics acknowledge. "Although infections are rising in some states, investors continue to see the glass as half full for the next 12-18 months, "they add.
Another relevant appointment on the investor's agenda will take place this Wednesday. The Federal Reserve will re-issue a statement followed by a press conference given by its president, Jerome Powell. The Fed is expected to maintain its program of unlimited asset purchases to keep the markets rally.
Across the Atlantic, the Ibex it is up 0.3% after rising 11% in its most bullish week since 2008. Finally in Asia the bags have closed in green between the advance of the crude oil and the good data of employment of the USA published last Friday.
In other markets, the West Texas oil falls 1% to $ 39.07. Besides, the ounce of gold rises 0.5% to $ 1,691, while the euro it depreciates 0.2% and changes to $ 1,1306. Finally, the profitability of 10-year American bond it is flat at 0.90%.
And by technical analysis, if the Nasdaq clearly exceeds its maximums, "we could end up seeing a extension of earnings to the level of 10,000 points or even up to the level of 10,200 points ", assures César Nuez, analyst at Bolsamanía.
Below, the first level of support is at 9,182 points, lows from last week. However, the key support lies in the 8,359 points, prices quite far from the current ones and where the average of 200 sessions passes, "concludes this expert.
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