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Wall Street corrects after hitting highs and after bad retail sales data



Wall street corrects after worse-than-expected retail sales. Specifically, this figure has fallen to 0.3% from the previous 1.6% and compared to the 0.5% forecast by the consensus of economists. A lower than expected result is typically historically bearish for the dollar. The main New York indices are trading down 0.5% on average after hitting new highs in Monday's session.

In this regard, PM experts recognize that the latest retail sales "They're better than they seem (thanks to reviews), but the outlook is fading fast."

Industrial production has been slightly above expectations (1.1% vs 1%) and puts a positive note in the string of macro data published this Tuesday in the US.

Within the business front, Amazon advances on the floor after announcing its online pharmacy for the sale of prescription drugs. Further, Walmart it also registers increases after beating expectations with its quarterly results and, finally, Tesla it soars after knowing that it will join the S&P 500 on December 21.

In health matters, more than 1 million cases of coronavirus have been confirmed in the US in less than a week, and there are already more than 11 million infected in the country, according to data from the Johns Hopkins University. "In the short term, the Covid continues to increase hospitalizations and call for additional measures to mitigate its impact ", recognize the experts of Vital Knowledge. "But in the long term, we are willing to overlook all this," they add.

Across the Atlantic, the Ibex has lost positions under pressure from BBVA and the tourism sector. Finally, in Asia the stock markets have closed with a mixed sign and their airlines shot up in the heat of the advances regarding the vaccine against the virus.

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