Wall street has closed the session this Tuesday with a mixed sign, maintaining the tone of the entire day in which there has been a clear protagonist: the Dow Jones. The US selective has undergone its biggest reform since 2013 in which the exclusion of Exxon Mobil after the Apple split, although the news has been received by investors with sales, which means that the apple company has broken the winning streak of five sessions.
Specifically, the Dow Jones has lost 0.2%, while the S&P 500 and the Nasdaq have advanced 0.3% and 0.7%, respectively, reaching close to new all-time highs.
"The changes in the index were caused by Apple's decision to split its shares 4 to 1, which will reduce the weight of the index in the information technology sector", they argue from the selective itself.
In addition to Exxon Mobil, which will be replaced in the Industrial Dow Jones by the business software firm Salesforce.com, the titles of the pharmaceutical company will also leave the selective of the New York Stock Exchange from next August 31 Pfizer, replaced by biotech Amgen, as well as those of the aeronautical contractor Raytheon, which will be replaced by the shares of the industrial group Honeywell.
The other great protagonist of the day has once again been the commercial war. China and the US have ratified their commitment to phase 1, casting optimism on an already thriving market despite the pandemic.
The US Trade Representative, Robert Lighthizer, and the Secretary of the Treasury, Steven Mnuchin, have had a telephone conversation with the Chinese Vice Premier, Liu He, to "discuss the implementation of the historic 'phase 1' of the trade agreement between States. United and China, "according to a statement from the office of the US Trade Representative (USTR) published Monday night. The conversation has also been confirmed by the Chinese state media agency Xinhua.
At the macroeconomic level, this Tuesday the consumer confidence, which has suffered. The index that measures it has declined for the second month in a row, as consumers are less optimistic about employment and business conditions. And that's, says Oxford Economics, despite recent increases in net hiring. "We suspect that Covid-19 infections, still widespread, are undermining confidence, and the end of federal unemployment benefits is also depressing spirits," they point out from this firm.
Specifically, the index has fallen from 91.7 in July (the figure has been revised down) to 84.8 in August, below the consensus estimate of 93. "Households are becoming more cautious in their prospects for the economy to continue to heal, which could dampen consumer spending in relation to the strong rebound in recent months, they comment from Oxford Economics.
And the data of new home sales, which has skyrocketed to its highest in nearly 14 years. It has exceeded the expectations expected for July, increasing by 13.9% to 901,000 operations, the strongest sales rate since December 2006. Although it could have difficulties from now on to maintain the growth rate, since despite Strong demand and low interest rates for mortgages support higher sales growth, slow recovery and weak labor market pose downside risks.
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