Wall street (Dow Jones + 0.62%; S&P 500 + 0.36%; Nasdaq + 0.35%) has continued to rise this Tuesday on a day in which the Nasdaq has moved between the rises and falls after the highs set by the Nasdaq this Monday. Investors are waiting for new macroeconomic benchmarks as the New York Stock Exchange is trading near, or as in the case of the technology index, at record levels.
The index that groups the values of technology and biotechnology accumulates a 21% appreciation as far as the year is concerned and it is quoted on a free rise, the best technical situation for any underlying.
At a strategic level, Morgan Stanley considers that the market is underestimating the risks of a significant rebound in inflation after the stimuli applied by the governments and the central banks to fight against the effects of the coronavirus.
"With the United States and global economies in the midst of one of the deepest recessions and recorded output gaps, most investors we spoke to have rejected our call for higher inflation risks"Morgan Stanley has noted in a report.
In this first week of August, US investors will be watching for various references. On an economic level, on Wednesday the PMI services and non-manufacturing ISM of China, Euro Zone and USA in July.
In addition, on Thursday the July private employment figures from consultancy ADP, a leading indicator of Friday's official employment numbers. The consensus expects the creation of 2 million jobs and a drop in the unemployment rate to 10%.
In the business scene, the Federal Trade Commission (FTC) from the United States investigates Twitter for the use of personal data by the social network to personalize the ads, something that the company considers that can lead to penalties of between 150 and 250 million dollars.
Besides, the European Comission has announced that it will initiate an in-depth investigation into the purchase by Google from the smart watch company Fitbit since you believe that said operation will strengthen the position of the technological multinational in the online advertising market.
And in other markets, the West Texas oil up 1.5% to $ 41.62, while the euro 0.16% is appreciated and is changed to $ 1.1780. In addition, the profitability of 10-year American bond down to 0.51%. And special mention for him gold, which has exceeded $ 2,000 for the first time in history. In fact, at the close of the US market it is around $ 2,016. Only so far this year the precious metal has appreciated by more than 31%.
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