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Slight rises on Wall Street, with new records for the S&P 500 and the Nasdaq

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Wall street It returns to record a record session although with slight increases. The S&P 500 it has exceeded 4,500 points for the first time in history, placing its maximum above the barrier. The Nasdaq it has continued above the 15,000 integers that it conquered in this Tuesday's session.

The technological index is revalued, so far in 2021, by 17%, while the reference index registers increases of 20%. The Dow Jones does the same in 16%. This has been the only one that has not broken any records. Despite this, it is driven by financial entities, which lead the index thanks to the boost of the yield of the US 10-year bond.

In this context, the data of the July Durable Goods Orders, which confirms a certain slowdown in US economic growth, since has fallen 0.1%. Despite this, the data is somewhat better than expected, a decrease of 0.3% was expected.

The orders excluding transport they have increased by 0.7%, above the estimate, which left it at 0.5%.

From Patheon Macroeconomics point out that this slowdown has been influenced by the drop in demand for Boeing aircraft, "whose trend is up, but which is very volatile from one month to the next, partially offset by a rebound in orders for automobiles and pieces, both expected. "

"Orders without transport keep increasing at a strong and steady rate, 14.3% in the three months to July compared to the previous three months. This rate is much faster than what can be deduced from the ISM survey, so it is likely that it cannot be sustained indefinitely, but we do not see immediate signs of weakening, "they clarify.

DATE OF THE WEEK, JACKSON HOLE

Despite this, stocks have continued to rise as investors discount that the Federal Reserve (Fed) will be "more cautious" when withdrawing its monetary stimulus, due to the uncertainty posed by the Delta variant of Covid-19, according to the strategists of Deutsche Bank.

Thus, the market continues to wait for the intervention of the Fed Chairman Jerome Powell, which will take place next Friday at the economic symposium of Jackson hole. More and more voices are they don't expect any relevant ad by the most powerful central banker in the world, although other analysts do expect some interesting clue about the monetary policy of the organization and its vision on the inflation.

Analysts Bank of America have anticipated their forecast for the beginning of tapering (the reduction of the Fed's asset purchase program, which now stands at $ 120 billion per month) "until November from January, although this forecast depends on the evolution of the labor data during the next months ", they indicate.

In his opinion, "the most important thing will be how the Fed manages market expectations, as it advances in this first phase of tightening its monetary policy ".

On Friday, the personal income and expenses figures for the month of July and the consumer price index for the same month, known as PCE, which is the price variable most followed by the Fed.

At the geopolitical level, the US confirmed this Tuesday in a virtual meeting of the G7 that maintains the date of withdrawal from Afghanistan for next August 31. The Taliban are already preventing civilians from accessing the Kabul airport and have made it clear that they do not want to extend that deadline.

Despite this, Germany Maintains that has received guarantees from the Taliban so that Afghans with valid visas can leave the country via commercial flights.

In addition, a group of Wall Street veterans, including the president of Barrick Gold Corp, John Thorton, wants resume talks with China, while the Biden Administration considers the exhaustive review of trade relations with the Asian power.

On the evolution of the pandemic, which is showing signs of having reached a peak worldwide, the White House's chief medical adviser, Dr. Anthony FauciHe stated yesterday that he expects The United States comes to control the coronavirus pandemic in the spring of next year.

COMPANIES AND OTHER MARKETS

At the business level, we must continue to talk about actions related to pharmaceuticals. Johnson & Johnson (-0.66%) has announced that provisional data from two new trials of their vaccine showed that the booster dose dramatically increased the immune response. This news comes after the US Food and Drug Administration definitely approve that of Pfizer and BioNTech.

Likewise, the 'meme' shares, the titles that are influenced by retail investors coordinated in internet forums, experienced a great session this Tuesday, with revaluations of 20% in the case of AMC. The company is trading with great volatility this Wednesday, which has risen by 7.7% to drops of 1.5%. 0.7% has been left.

"Despite the broad rally in meme shares, retail purchases were primarily concentrated at AMC, with more than $ 56 million in Tuesday's session," they wrote. Ben Onatibia and Giacomo Pierantoni of Vanda in a note collected by 'Bloomberg'.

Secondly, Rocket Lab It has been released on the Nasdaq with drops close to 10%, being the last space company to go public after merging with a SPAC, being valued at 4.8 billion dollars.

In other markets, the Petroleum West texas it rises 1.18% to $ 68.35. In addition, the euro it appreciates 0.14 and changes to 1.177 dollars. And the ounce of gold decreased by 0.88%, to $ 1,792, while the profitability of the 10-year American bond it rises to 1.346%. Finally, the bitcoin It falls 1.25% to $ 48,755.

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