Wall street records a smooth collection of benefits 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 believes that the market is underestimating the risks of a significant rebound in inflation after the stimuli applied by governments and central banks to fight 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%.
And in other markets, the West Texas oil falls 1.8% to $ 40.20, while the euro it appreciated 0.06% and was changed to $ 1.1768. In addition, the profitability of 10-year American bond it drops slightly to 0.54%.