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Wall Street clears initial earnings pending stimulus and pending Covid



Wall street clears the timid earnings with which you have opened the session. The US stock market is trading with slight declines at this time on Monday with an eye on the new stimuli and the increase in outbreaks due to coronavirus in the country.

Secretary of the Treasury Steven Mnuchin continues to keep negotiations open with Nancy Pelosi, Speaker of the House of Representatives. Both are expected to resume their discussion this Monday after last Saturday Pelosi will issue an ultimatum to the Trump Administration.

China is also bringing joy to the markets. The Asian giant has registered a GDP growth of 4.9% in the third quarter of the year, a figure that despite being somewhat below expectations, is being supported by the fact that retail sales have been better than expected to give Investors have another reason to believe in the recovery.

In health matters, coronavirus infections have exceeded 40 million worldwide this Monday. In the US, the number of new positives has grown 5% or more in 38 states. Despite this, strategists like Jefferies' still see the glass as half full: "The elections are getting closer and closer and fiscal stimulus is a catalyst in the short term. "

Despite everything, they do not rule out that "many things may happen in the coming weeks and the health front against the virus remains relevant in the long term."

In business matters, IBM is expected to publish its quarterly results this Monday after the market closes. In addition, Jerome Powell will deliver a speech to the IMF (International Monetary Fund). On the other side of the Atlantic, the Ibex remains green thanks to Inditex and PharmaMar as a 'red lantern'. Finally, in Asia the stock markets have closed with a mixed sign.

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