Wall street has registered a new earnings day after the past all-time highs of the S&P 500. The main world indicator closed the first quarter with a gain of 5.8% and this Thursday will go down in history after having passed the 4,000 points for the first time after closing with a gain of 1.18%
For his part, Dow Jones ended the quarter with a 7.7% gain, While the Nasdaq only advanced 2.7%, a great sign of the strong hand asset turnover towards cyclical actions, more associated with economic recovery, to the detriment of growth actions, such as technology. In this Thursday's session, they have advanced 0.52% and 1.76%, respectively.
The question investors are now asking is whether this asset turnover will continue in the coming months or whether the market has already discounted all the good it could discount, including infrastructure plan announced by Joe Biden and valued at $ 2.3 trillion.
"Markets are perfect machines of discounting scenarios, and it is possible that they already reflect that recovery after the acute recession of last year ", indicate the analysts of Morgan stanley. Its closing forecast for the S&P 500, located at 3,900 points and which represents a 3% drop from the current historical highs, reinforces its current estimates "of"a spike in growth rate" short term.
On the economic scene, weekly unemployment data has shown a spike in initial jobless claims to 719,000, above the 680,000 anticipated, after learning this Wednesday that the The private sector created 517,000 jobs in March, according to the consulting firm ADP. "The level of requests is still high, but we expect them to start to retreat at a faster pace as the recovery gains momentum. We expect a significant improvement in the labor market in the course of 2021, with a 7.5 million total jobs added and an unemployment rate of 4.3% at the end of the year ", they point out from Capital Economics.
We remember that Wall Street will close on Good Friday, but the March Employment Report It is scheduled for release that day. Economists expect the economy to believe 630,000 jobs and that the unemployment rate drops to 6% from 6.2%.
Analysts at Pantheon Macroeconomics expect good data in March and anticipate the creation of "more than a million jobs" in April, as the economy reopens and tourist activity recovers, a figure that will even be "superior" in the months "of May and June".
In other markets, oil West texas it rises 2.3% to $ 60.57. In addition, the euro appreciates 0.24% and changes to $ 1.1756. Finally, the profitability of the 10-year American bond it drops to 1.69%.