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Wall Street closes in green thanks to the good unemployment data and despite the Chinese tension



Wall street It has closed with rises in two of its three main indices, with the Nasdaq as the only selective that has opted for the red. Despite everything, the week is being slightly bullish for US equities, thanks mainly to the increases registered on Monday. Investors focus their attention on economic data, such as the revision of the US GDP for the first quarter and the weekly unemployment data.

The US job market continues to progress well and weekly jobless claims remain at pandemic lows. The Department of Labor has notified 406,000 subsidies. The figure is down from the 444,000 registered a week earlier.

Regarding the growth of the economy, the first quarter GDP revision ended unchanged maintaining an annual increase of 6.4%. The market expected a revision to 6.5%.

In addition, the April Durable Orders and the Secretary of the Treasury, Janet yellen, has carried out a public intervention in which it has predicted that the interests of the American debt will be very manageable during the next decade.

And on Friday we will meet the inflation index PCE, which measures the evolution of consumer spending and is the favorite measure of the Federal Reserve (Fed) to calibrate inflation expectations.

On the other hand, the American Government has sent a new batch of stimulus checks worth $ 1,400, bringing the total number of payments to almost 167 million, for a total amount of about $ 391 billion. These stimuli will have a direct positive impact on consumption in the coming weeks, according to experts.

At the enterprise level, the chipmaker Nvidia falls slightly despite exceeding analysts' forecasts with its first quarter results, which have shown a 88% revenue growth.

On the other hand, we remember that next Monday is a party on Wall Street for the Memorial Day, which remembers American soldiers killed in action.

"Stock markets are calm as long as Investors continue to anticipate the Fed's next move"said Mark Hackett, strategist at Nationwide." Low volatility and low volume of operations are frequent in the week before the holidays. "The next Fed meeting will be on June 16.

On the geopolitical scene, the Biden Administration wants to investigate further the origin of the Covid-19 pandemic in China, while the Government of Beijing tries to reactivate commercial relations with the main European countries.

As reported by The New York Times, the American president has commissioned a report that will be ready in three months to delve into "Possible Lethal Escape" of Virus from Wuhan Virology Lab. The news has not pleased the Chinese government.

On the positive side, responsible for commercial relations between both powers They have maintained their first call on Thursday under the administration of US President Joe Biden, according to the Chinese Ministry of Commerce.

In other markets, the Petroleum West texas falls 0.8% to $ 65.65, while the euro it depreciates 0.03% and changes to $ 1.2186. In addition, the profitability of the 10-year American bond rises slightly to 1.58% and the ounce of gold down 0.2% to $ 1,896. Finally, the bitcoin up 2% to $ 39,130.

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