Wall street does not find a ceiling and trades with more profits after close its most bullish week since November, that has allowed New York indices to return to all-time highs zone. The hope of more economic stimulus, together with advances in vaccination against the coronavirus, counteract the fears of some analysts about the current high valuation of US equities and high levels of overbought.
The Senate and House of Representatives passed a budget resolution on Friday, opening the door to the approval of the new $ 1.9 trillion rescue plan promoted by President Joe Biden. Package includes $ 1,400 in stimulus checks, supplemental unemployment benefits and funds for tests and vaccines against Covid-19.
The Secretary of the Treasury, Janet yellen, said Sunday that if Biden's stimulus plan passes, The United States could return to full employment by 2022.
"There is absolutely no reason why we should suffer a long and slow recovery," Yellen said during an interview on CNN. "I would hope that if this package is approved we will return to full employment next year"he added.
At the strategy level, "we are still in a bull market in the early stages of an economic recovery that is gaining momentum", it states Michael Wilson, chief U.S. equity strategist of Morgan stanley. "We continue to recommend actions with more advantages for a recovering economic context, as the vaccines are distributed and normal activities resume, "he added.
At the business level, the fourth quarter results continue. Up to 78 components of the S&P 500 will release their quarterly figures this week. Among the most prominent are Cisco, Twitter, Yelp, Uber, MGM, Mattel, GM, Coca-Cola and Disney.
In addition, manufacturers Hyundai and Kia have fallen sharply in the stock market after confirming that they won't make Apple's autonomous car, despite the information in recent weeks.
On the other hand, anecdotally, according to the 'Super Bowl Theory', if the NFC defeats the AFC in the final, the Dow Jones will close the year higher. In this case, the Buccaneers belong to the first, so their victory anticipates gains on Wall Street this 2021.
In other markets, oil West texas rises 1.3% to $ 57.59, while the euro it is flat and changes to $ 1.2042. In addition, the profitability of the 10-year American bond it advances to 1.18%.