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Wall Street is trading with a mixed sign after a bearish week and awaiting the elections


Wall street trades with a mixed sign at this time on Monday after rebounding about 1% after closing its most bearish week since March and waiting for the presidential election Tuesday, undoubtedly the most important event until the end of the year, with permission from the coronavirus pandemic and negotiations on the Brexit.

The American Stock Exchange closed the month of October with notable falls, although asian bags have started the week with profits, thanks to good economic data in China, a country that continues to recover from the crisis better than the rest of the nations.

However, the focus of investors is on Washington. "The week will feature the North American elections. Latest polls give Biden a 10-point lead over Trump (but only 6 points in 12 states). While we could have a first reading on Wednesday morning, We do not rule out that the count could last several days and even weeks, taking into account the large number of voters by mail, "they explain from Renta 4, since more than 90 million of Americans have voted by mail.

"Unless there is a clear victory for either candidate, it could even be the Supreme Court who had to decide the winner, in a process that would drag on over time and, without a doubt, would bring great volatility and uncertainty to the markets, "these analysts add.

"We recall that Trump has already warned that could challenge the electoral result in case of observing fraud in the vote by mail"They conclude. The New York Times has warned of possible civil conflicts if Trump loses and does not recognize the result.

On the coronavirus pandemic, which remains unstoppable in the United States, the positive news is that Josep Baselga, director of the Oncology Research and Development area of AstraZeneca, has anticipated that coronavirus vaccines will be in a "advanced phase of distribution" by the end of the first quarter of 2021.

At the macroeconomic level, the data on manufacturing activity stands out, which has expanded strongly in October, supported by the increase in activity and the increase in spending on consumer goods. The ISM manufacturing index has reached a new recovery high of 59.3 in October, marking the fifth consecutive month of expansion.

In the business world, Apple is in the news again. Those of Tim Cook have announced this Monday a new event to be held on November 10. It is expected that in this meeting the new Macs computers will be announced, it is expected that they will be the first with their own processors. Despite the news, Apple shares are infected by the falls in the Nasdaq and are left at this time of Monday about 1%.

At a technical level, Nasdaq falls 11% from the annual and historical highs in September. "Right now it feels like the index is shaping some kind of flat correction, it may just be a corrective ‘abc’ that serves to correct / proportionally adjust the important previous rises, "he says. Jose Maria Rodriguez, an analyst at Bolsamanía.

"As a support area we have the September lows (10,677) and below the area of ​​10,440 points, the base of a potential side channel with a certain negative slope ", adds this expert.

In other markets, oil West texas falls 1.31% to $ 35.32, while the euro it appreciates 0.05% and changes to 1.1653 dollars. Besides, the ounce of gold it advanced 0.5% to $ 1,899. Finally, the profitability of the 10-year American bond it stands at 0.86%.

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