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Mixed shutdown on Wall Street awaiting quarterly maturities

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Mixed closure in Wall street (Dow Jones: -0.15%; S&P 500: + 0.06%; Nasdaq: + 0.33%) after weekly unemployment data and news of a coronavirus outbreak in various territories of the United States. Scott Gottlieb, a former commissioner of the Food and Drug Administration (FDA), has commented that the southern and western states of the country, the most affected areas now, are "about to lose control".

Investors are also waiting for this Friday to occur quarterly maturity of derivatives, the 'quadruple witch hour'. A time when the 'strong hands' of the market adjust their positions for the coming months.

In macro matter, this Thursday Weekly jobless claims in the US have been re-released. The figure of 1.5 million has exceeded the forecast of 1.3 million and increases the destruction of jobs due to the pandemic until 46 million jobs.

"The data increase the risk that the improvement in labor market conditions is stagnating. However, we believe that it is too early to draw this conclusion, and we await the next reports for clarity, "they state from Barclays.

Jerome Powell, chairman of the Federal Reserve (Fed), commented on Wednesday that "it would be worrying if Congress withdraws the support it is providing too quickly." In his opinion, "it would be appropriate to think of continued support for people who are out of work and for smaller companies. The economy has started to recover, but it's in a critical phase and I think support is appropriate right now"he added.

"We believe that the market has been discounting only the good news and the rally will take a breather in the coming months as the recovery continues "Wells Fargo experts point out. "We anticipate volatility, between the reopening of the economies and the return to normality of consumer spending," they add.

This afternoon the Supreme Court's decision was also known on Obama's immigration program. The agency has dismissed Donald Trump's decision to end it as illegal, thus paralyzing its intention to expel hundreds of thousands of young people.

TECHNICAL ANALYSIS AND OTHER MARKETS

So far, after hitting all-time highs at 3,393 points in mid-February and plunging 35% to lows in March (2,191 points), the S&P 500 it has rebounded again more than 40%, to the current 3,110 integers.

For his part, the Nasdaq He faces 10,000 points again, after recently setting a new record at 10,086 points. "How much more can it go up? No one knows, let's not kid ourselves," he says. José María Rodríguez, analyst at Bolsamanía.

"The really important thing is not that. The important thing is that the trend is still impeccably bullish, building increasing minimums and maximums for more than ten years. Once again it has been shown that the strength remains on wall street and in technology, mainly ", concludes this expert.

In other markets, the West Texas oil up 1.7% to $ 38.63. Besides, the ounce of gold drops 0.3% to $ 1,730, while the euro it depreciates 0.33% and changes to $ 1,1205. Finally, the profitability of 10-year American bond relaxes up to 0.69%.

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