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Wall Street rebound pushing Nasdaq back above 11,000 points


Wall street (Dow Jones + 1.05%; S&P 500 + 1.4%; Nasdaq + 2.13%) registered a significant rebound this Wednesday after the S&P 500 bearish turn in Tuesday's session, near its all-time high in February. The drop was most pronounced in the technology sector, as investors are reaping benefits after recent accumulated gains. However, big technology companies have led the gains this Wednesday, to such an extent that the Nasdaq has recovered 11,000 points

Investors are still aware of the evolution of the coronavirus and its economic impact, as well as the inflation data in the United States. For now UK has confirmed a 20.4% contraction in the second quarter of 2020, a record slump in GDP.

For its part, Donald trump has announced that its Administration will purchase 100 million doses of the experimental vaccine from Modern against Covid, while the scientific community has questioned Russia's announcement that it has already gotten a vaccine.

In addition, the actions of Tesla have soared more than 13% after announce a 'split'. Through this operation, also known as a share split, you will divide each of your titles into 5 new ones.

At the strategic level, american stocks have seen the highest earnings growth of any analyzed markets, which investors have rewarded with higher valuations, according to Sean Markowicz, Head of Strategy at Schroder.

Although the US is not immune to the pandemic, "the high concentration of technology companies and their lower sensitivity to world trade have meant that its stock market has not been greatly affected"says this expert.

On the economic scene, the inflation in the US it rose to 1% in July in the interannual rate, above the 0.8% anticipated by experts. The Underlying inflation, which does not include food or energy, rose to 1.6%, well above the 1.1% forecast.

And in other markets, the West Texas oil rises 2.3% to $ 42.61, while the euro it appreciates 0.41% and changes to 1.1787 dollars. In addition, the profitability of the 10-year American bond goes up to 0.67.

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