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Wall Street bounces 1% after Dow's best month in three decades


Wall street it has rebounded more than 1% in the first session of December, a day after the Dow Jones closed its best month in the last three decades. Thus, this index has advanced 0.62%, while the S&P 500 and the Nasdaq have advanced 1.13% and 1.28% respectively.

"Everything points to the fact that December 2020 could end very strong", admit the analysts of Fundstrat Global Advisors in his last note to investors.

The rally of the bags is framed in an environment of outbreaks that do not finish to stop and vaccines that have not just arrived. In this sense, the last known is that Pfizer Y BioNTech have requested this Tuesday the green light in Europe to start distributing their candidate against the Covid.

The negative note is Jerome Powell. The president of the Federal Reserve (Fed) has commented that "the outlook for the economy is extraordinarily uncertain and will depend, to a large extent, on the success of efforts to keep the virus under control."

There is also a red lantern in business. Zoom shares are plummeting more than 13% after having registered an income of 1,768.9 million dollars, 30% more. Although these are still astronomical figures for a company that barely a year ago was unknown, investors have detected a slight moderation in their earnings growth.

Meanwhile, macroeconomic data continue to be known. Manufacturing activity remained buoyant in the past month driven by the ongoing domino effects of the pandemic rebound and some restocking.

The ISM Manufacturing Index eased to 57.5 in November, down from a two-year high in October of 59.3. Production continued to grow at a healthy rate, new orders signaled strong ongoing activity, inventories rose for the second month in a row, while supplier deliveries slowed and employment fell back into contraction territory.

On the other side of the Atlantic, the Ibex opens December on the rise thanks to banks, Repsol and tourist values. Finally, in Asia stocks have closed in green after the good Chinese macro data.

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