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Wall Street wants to rally: starts the week in green after four consecutive in red


Wall street The week started in green, with increases of more than 1.7% in the main indices of the New York Stock Exchange, after four consecutive falls. The typical correction after a long rally has come together with September, a historically very weak month in equities. The problem is that this explosive cocktail has been joined by the coronavirus crisis, which continues to hit the US with force on the eve of the presidential elections.

"When stocks reach the extremes seen a month ago, they tend to correct strongly before leaving the worst behind ", say the experts of Miller tabak.

The second major stimulus package also continues to focus investors' attention on Monday. Nancy Pelosi, Speaker of the House of Representatives, said this Sunday that a round of stimuli of 2.4 trillion dollars is still being discussed. Congress will vote on it, at the earliest, next week.

In political matters, US President Donald Trump is in the news after being accused of tax evasion during the last 15 years by the New York Times. The president paid $ 750 in income tax for 2016, according to the newspaper. A news that the Republican has not taken long to describe as 'fake news' and that has been known just a few hours before his first face to face with his rival in the November 3 elections, the Democrat Joe Biden, with whom he will have his first campaign debate this Tuesday.

For its part, at the business level it stands out Uber. The company's shares are up about 3% after regain your license to continue operating in London, which had been withdrawn in November 2019 by the competent authority, Transport for London (TfL), due to failures that put the safety of travelers at risk.

On the other side of the Atlantic, the Ibex moves away from the support of 6,400 points while all of Europe rebounds strongly. Finally, in Asia, the stock markets have closed with a mixed sign after Washington sanction the largest Chinese chipmaker, SMIC.

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