Wall street (Dow Jones -0.55%, S&P 500 -0.64%, Nasdaq -0.10%) has closed in the red on a day in which the Nasdaq has been between gains and losses. Investor doubts have arisen despite the strong monday gains. Despite the good start to the results season, new problems in vaccine development have prevailed in the markets.
This Tuesday it was known that Johnson & Johnson has stopped clinical trials of its Covid-19 vaccine due to an "unexplained illness" in a study participant, delaying one of the highest-profile efforts to contain the global pandemic.
Big technology like Amazon soared this Monday due to the good forecasts for their businesses. The e-commerce giant celebrates its 'Prime Day' with very positive forecasts, while Manzana falls on the bag.
Those of Cupertino had set the expectations of their new iPhone 12 and the new devices have disappointed the market. At this time, their shares fall more than 2%
The most relevant part of the session was the start of results season of the third quarter, with the figures of Citigroup, JP Morgan, Blackrock and J&J.
For banks, an improvement is expected compared to the second quarter due to the "positive evolution of trading income, commissions, lower provisions", they point out from Renta 4. At the moment, JPMorgan Y Citigroup advance more than 1% after 'confessing' to the market, while J&J falls to disappoint with their figures and forecasts.
The market discounts that the S&P 500 as a whole collect a drop in income of -4.4%; and Earnings Per Share (EPS) of -21% compared to the third quarter of 2019. "It is expected that less than half of the sectors (11 in total) will achieve growth in income, led by the health sector; and that all sectors suffer falls in terms of EPS. The main focus of attention will be on the visibility of companies to offer 2021 guides"these analysts add.
At an economic level, The US has published its IPCs for September. Headline inflation has remained at 1.4% and core inflation at 1.7%, in line with expectations, which facilitates the application of new monetary stimuli if necessary by the Fed.
On the other hand, the International Monetary Fund has revised upwards, to -4.4%, its forecast of a fall in gross domestic product (GDP) worldwide in 2020, while the rebound in 2021 has worsened to 5.2%, according to his report "World Economic Outlook", published this Tuesday.
In other markets, the West Texas oil, a reference for the American market, rose by 1.8% to 40.13 dollars, while the euro it depreciates 0.21% and changes at $ 1.1788. Finally, the profitability of the 10-year American bond it drops to 0.75%.
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