Finally the super Wednesday has arrived at Wall street and the main US indices have welcomed it with increases of close to 1% (Dow Jones + 0.61%; S&P 500 + 1.25%; Nasdaq + 1.35%) after learning the Fed's decision to maintain interest rates intact. Powell's words come on a marked day of major dating, the avalanche of business results continues, and the FAANGs are appearing in the United States Congress on a landmark date.
US stocks come to close with falls of 0.7% on average this Tuesday weighed down by the poor results of companies such as McDonald's and Starbucks.
The negotiation between Republicans and Democrats of another great stimulus package, which has been qualified by Nancy Pelosi as "pathetic" (for the amount proposed by the Trump), is also setting the agenda for the markets in recent days.
Returning to Powell's men, the market has welcomed in the best possible way that has ensured that they will "do whatever it takes to ensure confidence in the economy recovers".
Despite keeping interest rates intact, a decision that seems to go on for a long time, the Fed president has assured that "we need more stimuli" from both them and Congress "to alleviate the greatest shock in our history".
Regarding FAANG, the CEOs of Google, Amazon, Apple and Facebook they are accountable to Congress, which is evaluating whether they have become too monopolistic companies fueled by the crisis. An accusation that the four have flatly denied. They assure that they are examples of successful entrepreneurship.
"We compete against all the companies that appear in this appearanceas well as many others that sell ads and connect people, "said Facebook CEO Mark Zuckerberg.
At the business level, the news of the day is undoubtedly Kodak. The camera maker is shot on the parquet. Its shares have risen more than 300% after the Trump Administration has announced an agreement with the company to start manufacturing pharmaceuticals.
Across the Atlantic, the Ibex waits for the Fed in red and pressured by the falls of Santander Bank after their results. In Asia, the bags have closed green but also with an eye on the Federal Reserve.
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