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Wall Street turns higher, with the S&P 500 and Nasdaq at new highs


Wall street has turned higher after trading in a mixed direction for much of the day, which has led to both the S&P 500 as the Nasdaq renew their historical.

Stock markets are now looking for another catalyst to hold onto to continue their climb. The last one took place this Tuesday, after China and USA ratify their commitment to phase 1 of the trade truce.

Another important catalyst could be advances in vaccines. A flood of news about treatments for the virus is taking place this week, and the market welcomes it.

Investors are awaiting the Jackson Hole Central Bankers Symposium, which this year is virtual due to the pandemic and whose extension has been limited to Thursday and Friday sessions.

It has as 'leitmotiv' 'Navigating the Next Decade: Implications for Monetary Policy' and aims to reflect the main concerns of monetary policy in the coming years, after the coronavirus has completely disrupted the short-term expectations of the world economy.

The meeting will be inaugurated this Thursday, as is tradition, with a speech by the current Fed president, Jerome powell, highly anticipated by the markets in a week of little activity due to the summer holidays and which could set the tone for the start of the economic year in September.

At an economic level, durable goods orders July in the US rose 11.2%, above the 4.3% anticipated. Although without the Transport item they advanced 1.9%, in line with the forecasts.

The Wall Street rally is taking place before the imminent restructuring of the Dow Jones by the split of shares of Manzana. Those of Cupertino will force the largest reform of the selective since 2013 and have already caused the exclusion of the oil company Exxon Mobil after almost a century integrating the index. Among the changes is also input from the software developer Salesforce.com, which this Wednesday shoots more than 17% precisely because of that news and because of its results: it has surprised locals and strangers with unprecedented numbers in the second quarter due to the current difficult environment. Specifically, the San Francisco-based company has earned 2.625 million dollars, about 2.85 dollars per share, compared to 91 million in the same period of the previous year.

On the other side of the Atlantic the Ibex and the rest of Europe are trading practically flat and in 'vacation mode'. Finally, in Asia, the stock markets have closed with a mixed sign despite the push from Alibaba, which has risen before the imminent debut of its subsidiary, Ant Group, in the Hong Kong and Shanghai parks.

In other markets, oil West texas falls 0.2% to $ 43.23, while the euro it depreciates 0.47% and changes to $ 1.1777. In addition, the profitability of the 10-year American bond it rises to 0.72%.


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