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Wall Street anticipates lack of trend with S&P 500 very close to its all-time high


Wall street anticipates lack of trend while S&P 500 it is trading very close to its historical maximum in February, located at 3,393 points. The main world indicator already accumulates an annual gain close to 5% and has recovered the collapse that caused the pandemic in the month of March.

Thus, investors wonder where US equities can go in the short and medium term. For technical analysis, a close above the previous maximum, "with ease and if it can be in weekly candles better than better, would put the S&P on an absolute free rise, with the upward implications that this usually has for any underlying in the same situation, "he explains Jose Maria Rodriguez, an analyst at Bolsamanía.

At an economic level, they have yet to be published weekly unemployment data. Analysts anticipate that initial jobless claims will drop slightly, but remain very high, at 1.12 million.

"All this framed in the environment of the coronavirus pandemic"explain Link Securities analysts." Once again, we reiterate that any 'serious' news about an effective vaccine or treatment against the disease will be a turning point to end the health crisis ", they add.

And in other markets, the West Texas oil falls 0.1% to $ 42.63, while the euro it appreciates 0.56% and changes to 1.1848 dollars. In addition, the profitability of the 10-year American bond it drops to 0.67.


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