Take a fresh look at your lifestyle.

Wall Street keeps buying and the Nasdaq is on the verge of 11,000 points


Wall street (Dow Jones + 1.39%; S&P 500 + 0.64%; Nasdaq + 0.52%) keeps buying and the Nasdaq is on the verge of 11,000 points. The technology selective is again leading the rally of US equities and accumulates an annual return of 22%, after marking a new all-time high of 10,980 points.

In this first week of August, US investors will be waiting for several references. At an economic level, it has been published the activity data of the services sector of China, the Euro Zone for July and the US.

In the case of ISM services American, has rebounded to 58.1 from 57.1 and has exceeded the consensus forecast of 55. "The order index tells us that activity is increasing, but the rebound comes from such a low base that companies do not need to hire more people to meet demand", explain analysts at Pantheon Macroeconomics.

"We expect this to start to change with the gradual reopening in the southern and western US, likely to begin later this month, but a full return to normal conditions in the non-manufacturing sector, which is highly dependent on consumer spending, will not occur until there is a vaccine", these experts add.

In addition, the July private employment figure from ADP consultancy, a leading indicator of the Friday's official employment figures. The consensus expects the creation of 2 million jobs and a drop in the unemployment rate to 10%.

However, the ADP data has been a jug of cold water, since it has only shown the creation of 167,000 jobs, far below the 1.5 million anticipated by consensus.

On the other hand, Treasury Secretary Steven Mnuchin, has shown its confidence by reaching a pact this week for Congress to approve a new economic stimulus package.

At the business level, Disney soars 10% after exceeding forecasts with subscribers of Disney +, its streaming service, which has exceeded 60 million subscribers. The entertainment company leads earnings on the Dow Jones.

And in other markets, the West Texas oil rises 3% to $ 42.93, while the euro it appreciates 0.42% and changes to 1.1850 dollars. In addition, the profitability of the 10-year American bond it rises to 0.53%.

And special mention for him gold, which has confirmed the overcoming of $ 2,000 on rally 2% to $ 2,060 per ounce. So far this year alone, the precious metal has appreciated more than 33%.

. (tagsToTranslate) Wall (t) Street (t) keeps (t) buying (t) Nasdaq (t) is (t) doors (t) 11,000 (t) points (t) Category: All (t) Category: Market Report (t) Category: US Report (t) Category: International News (t) Category: Pulsos (t) Category: Pulsos USA (t) Category: Market Pulse (t) mostread_mercados (t) mostread_internacional

Leave A Reply

Your email address will not be published.