Wall street registers mixed sign after Monday mixed closure. Investors are optimistic about the evolution of the pandemic in the United States, which seems to give a truce in the last days; and the Russian announcement that it already has a vaccine. Despite doubts about this announcement, hope is growing that other countries will get a vaccine in the coming months, which investors like.
To highlight, the S&P 500 It is less than 1% of its historical maximum in February, which is why it has recovered all the fall recorded in the month of March. During this day, the values associated with tourism sector, very sensitive to the news about the virus, they are the most benefited by the latest news.
Another positive factor is that Donald Trump has indicated that his Administration is considering a capital gains tax cut. This is not entirely new, but it serves to underpin positive investor sentiment and has delivered strong profits for banks. Good proof of this is that the KBW Banks index, which groups together the main American banks, rebounded by 3%.
Another relevant aspect of the day is that, for the first time in many weeks, the tech sector is not leading earnings. He Nasdaq it rises very moderately and does not recover 11,000 points, which may indicate the beginning of a rotation of assets towards values more linked to the economic cycle.
In this sense, the indicator Dow Jones Transportation register a Bullish streak of 10 consecutive days in which it has appreciated more than 13%, its best record since 2013. The hope of a new economic stimulus package by Congress it is one of the main factors to explain this positive behavior.
At the business level, CNBC has anticipated that Airbnb, the online platform for tourist rentals, plan to go public soon.
And in other markets, the West Texas oil rises 1.8% to $ 42.70, while the euro it appreciates 0.45% and changes to $ 1.1790. In addition, the profitability of the 10-year American bond it rises to 0.60%. For his part, gold it falls sharply 2.5% to $ 1,992 per ounce.
While the refuge values par excellence are being lived heavy falls. Gold is leaving more than 5% at this time on Tuesday while silver is plummeting more than 14%.