Wall street it is trading at this time on Monday with a mixed sign, only the Dow Jones is in positive territory, and it reduces the losses with which the session began. The doubts among investors are produced despite the new economic stimuli agreed in the United States and valued at $ 900 billion. The market reaction is explained by the fact that these stimuli had already been discounted last week and investors are now focusing their attention on the negative news coming from Europe about the coronavirus.
The main New York indexes have reduced the red numbers after Steven Mnuchin, Secretary of the Treasury, has assured that they will begin to send the checks worth $ 600 millions of Americans from next week.
Although the US has already begun to vaccinate its population against Covid-19 with the Moderna vaccine, which is added to that of Pfizer, the spread of the virus in American territory remains uncontrolled, which anticipates significant economic damage in the short term. Precisely, the vaccine from Pfizer and BioNTech and received this Monday the approval of the European Medicines Agency.
And to this is added the fear of new strain located in the UK, a country closely linked to the US through air connections. Thus, the stocks most exposed to the tourism sector, such as cruise lines Norwegian and Royal Caribbean , or airlines like Delta Air Lines, are the main losers this Monday.
In addition, it is necessary to emphasize that, when there are only a few days left until 2020 ends, the S&P 500 had risen almost 15% as of Friday, the Dow Jones about 6% and Nasdaq an impressive 42%. So the correction for the New York Stock Exchange is within normal parameters.
At a business level, one of the protagonists of the day is precisely one of the actions of the year, since Tesla enters the S&P 500, with a weighting of 1.7% and a market capitalization of $ 600 billion. Although this Monday comes with strong falls and it is close to 5%.
On the other hand, on Friday the Fed announced that it will allow big banks of the country to resume share buybacks in the first quarter of 2021, although subject to certain rules, which benefits the banking sector.
In other markets, the West Texas oil falls 5% to $ 46.60, while the euro it depreciates 0.7% and changes to $ 1.2165. Besides, the ounce of gold down 0.5% to $ 1,879.
Finally, remember that this week there are only three and a half sessions in the bags, since Thursday they open only half a day on both sides of the Atlantic and on Friday they close for Christmas.