Wall street is trading with solid gains at the start of a week marked once again by the coronavirus. The race to find a vaccine has been accelerated in recent hours and this is celebrated by companies like Pfizer and BioNTech in the park.
The first increases 2% and the second stands out with increases of 5%. These developments, which can unclog the discovery of a vaccine, give investors the confidence they need in the face of outbreaks like Florida's.
This state has recorded 15,299 new infections on Sunday, the highest recorded in any state in the country since the start of the pandemic. In total, more than 3 million are positive for coronavirus in the largest economy in the world. "Coronavirus is still a big problem," acknowledge experts at Vital Knowledge. "The market is still taking everything relatively well", Apostille.
Another important detail to take into account are the great technologies. It is the stocks that are fueling and sustaining the stock market rally, but analysts at Miller Tabak already warn that "They are 'overbought' and beginning to be overvalued."
The second-quarter earnings season kicks off this Tuesday in the US with JP Morgan, Citigroup and Wells Fargo reporting to the market. Expert consensus foresees a 44% drop in profits in the quarter, the biggest drop since the fourth quarter of 2008, the year of the global crisis.
Across the Atlantic, the Ibex and the rest of Europe also start the week with increases awaiting the ECB, the European Council and the results. Finally, In Asia, green has also strongly prevailed, especially in the Chinese stock markets.