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New bump on Wall Street after the Democratic blockade of new economic stimuli


The main New York indices (Dow Jones -1.45%; S&P 500 -1.77%; Nasdaq -1.99%) have experienced a new bump this Thursday, the falls in the Nasdaq have been around 2%. The doubts have come to investors from the hand of a blockade to a new stimulus plan.

Democrats have blocked a Republican-proposed recovery aid plan in the Senate. They are justified in that this measure is too poor for the damage caused by Covid-19.

Wall Street has started the session slightly optimistic despite the fact that the United States has registered this Thursday some job requests that are somewhat worse than expected. The world's largest economy registered 13.3 million continuous applications in the last week of August.

In the business field, Tesla has bounced 11% and Apple 4%. It is those of Cupetino who are hurting the Dow Jones the most. Despite the fact that everything indicated that this day was credited to green, it had come to recover the capitalization of two trillion dollars, the falls once again marked its price. More than 3% have been left.

Some experts, like Stanley Druckenmiller, say that the 'pull back' is not over yet and others offer reasons why the bags can recover the green again. This is the case of Liz Young, an analyst at BNY Investment Management: "I don't think this is the time to 'sell' the rally and back down."

At Morgan Stanley they come up with 10 reasons to expect a 10% rally in the Old Continent between now and the end of the year. Continuing in Europe, the ECB has stayed the course but Lagarde will give the keys to his new stimuli and the euro roadmap.

Against this background, the Ibex doubts again, pressured by Telephone and the banks, and waiting for the ECB. Finally, in Asia, the stock markets have closed with a mixed sign before the debut of Yum China in Hong Kong and after the Wall Street rebound on Wednesday.

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