The Ibex (+ 0.95%) has managed to avoid doubts about the vaccine. AstraZeneca's decision to stop the study of the Covid-19 vaccine after a patient fell ill without explanation has weighed down the stock markets in the first hours of the session. But they have managed to rebound in the heat of the rises that are being registered on Wall Street. The main New York indices register rises close to 2% after closing yesterday on a black Tuesday weighed down by technology.
The continued fear surrounding the tech sector is being a key point this week. In the middle of this matter are the relations between China and the United States., which continue to deteriorate. Donald Trump has spoken of "decoupling" the US economy from China, as he wants his country to be less dependent on the nation. China is the workshop of the world, since its manufacturing cost is very low, so it will not be easy to undo this link, analysts say.
Trump wants US companies to bring jobs to the US, and may threaten those who do not. It appears that the movement is aimed at gaining support before the presidential elections. "The relationship with China is being strained and that was a factor behind Tuesday's declines," explains David Madden, an analyst at CMC Markets in London.
While all this is happening Republicans and Democrats have not yet agreed on a package of aid to alleviate the effects of Covid-19. Republicans in the Senate are believed to be able to push for a $ 300 billion package, and the vote could take place on Thursday.
China released the CPI data for August this morning. The reading was 2.4%, which met the expectations of economists. The July report was 2.7%. The reading of the Production Price Index for August was -2%, in line with forecasts. The previous level was -2.4%.
For the rest, investors are already looking to this Thursday, when the meeting of the European Central Bank (ECB) is held. This is the typical week of a monetary policy meeting of the agency: laden with doubts and uncertainties, raising hopes that Christine Lagarde will be generous. No changes in monetary policy are expected at this meeting but, as always, it will undoubtedly serve as a catalyst for the market, for better or for worse.
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