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Mixed sign on Wall Street: S&P 500 marks new all-time high

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Wall Street is trading this Tuesday with a mixed sign. Among the main US stock exchanges, only the Dow Jones records slight losses at this time. In the meantime, the S&P 500, which rises by 0.2% at the moment adds up to 0.2%, has marked a new historical maximum by reaching 3,395 points. Like the Nasdaq, which extends its record achieved yesterday with a rebound of 0.8%.

From its lows in March, the S&P has appreciated more than 50% as a result of stimuli and corporate earnings that have beaten expectations. On the other hand, the Nasdaq comes from setting new intraday highs this Monday and is already up 24% in 2020.

"Markets lack a catalyst to help them overcome key resistance," Nationwide experts lament in their latest report. "Movements (of indices) like the S&P 500 they discount the optimism of an economic recovery supported by fiscal stimuli, "he argues.

What is really remarkable about the rally in the US is that it is taking place despite Donald Trump's questionable handling of the pandemic, and also despite the confrontation between Republicans and Democrats to carry out a new package of measures that will irrigate the largest economy in the world.

MACRO AND COMPANY DATA

Meanwhile, this Tuesday the numbers of housing starts in the US were known. Home construction soared in July, taking a significant turn from the slowdown that occurred in previous months due to the coronavirus. Builders started homes at an adjusted annual rate of 1,496 million in July, 22.6% more than the previous month and 23.4% more than a year ago, as reported by the US Census Bureau. A rise that is explained by the increase in the construction of single-family and multi-family homes in the seventh month of the year.

In the business field, it stands out Walmart, which is up 0.3% after beating expectations with its second quarter revenue and profit figures. Net earnings have reached 6.48 billion dollars, or $ 2.27 a share, up from $ 3.61 billion, or $ 1.26 a share, last year. Adjusted earnings per share of $ 1.56 has far exceeded FactSet's expert consensus of $ 1.25.

For its part, Home Depot made $ 4.33 billion, or $ 4.02 per share, in the second quarter, compared to $ 3.17 per share in the same period last year. This is because revenue increased 23.4% to $ 38.05 billion. The forecasts pointed to an earnings per share of 3.68 dollars and income of 34,530 million, so it has also beaten the estimates. The shares of the company yield 0.7%.

In the raw materials market, gold rises and recovers $ 2,000 between geopolitical tension and dollar weakness while on the other side of the Atlantic. In addition, the West Texas barrel, a benchmark in the United States, lost 0.3% and paid at $ 42.75. For its part, in the raw materials market, the euro appreciated by 0.54%, to $ 1.1934. And in the debt market, the yield of the US 10-year bond stands at 0.66%.

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