To wall street The joy has been short-lived and after a bullish opening it has returned to red, a tone that has predominated in the New York Stock Exchange for more than a week. Investors are still on the lookout for inflation, the 'star issue' that worries the market at the moment, and which is being used as the 'fundamental excuse' of many 'strong hands' to reap profits after an annual increase of more than 10% for US equities.
Although, according to FundNews, analysts from JP Morgan consider that the current consolidation will not last –it will last maybe between 1 and 3 months-, Y in the end it will be "a great entry point for the next bullish leg", which they expect in the fourth quarter of the year.
For Bankinter, "the key to the vault now is how the American inflation turns out until July / August. But not inflation in isolation, but in combination especially with employment. Because if it improves very quickly (in April it did not, but disappointed) then the Fed could be in a hurry and be forced to change its strategy. "
Nor has the market liked the last words of Janet Yellen, the United States Secretary of the Treasury. He has argued that the country must "reorient" its fiscal policy with the aim that companies pay more taxes and thus contribute to the economic recovery plan by paying their "fair share".
"I believe that we must reorient the framework of the fiscal policy of the United States. For decades, the predominant focus has been the need to reduce and limit the size of the Government as a percentage of the economy," Yellen defended in an event organized by the Chamber of Commerce of the United States. The secretary has assured that this political approach "has had profound effects" in the country and its citizens.
In this scenario, most important data for investors in the next sessions will be the minutes of the last Federal Reserve meeting (Wednesday), which might give some additional clues to your outlook on inflation.
On Thursday, the weekly unemployment claims and the Philadelphia Fed Manufacturing Index, while the PMI indicators of economic activity in the Eurozone and the United States (preliminaries for the month of May) will be known on Friday. This Tuesday, April's housing starts and building permits will be released.
At the business level, the investor Michael Burry has revealed that it maintains a bearish position against Tesla valued at $ 530 million.
What's more, Amazon is in talks to buy MGM, the film studio behind the James Bond saga, for about $ 9 billion.
On first quarter earnings seasonAs it is coming to an end, 86% of S&P 500 companies have beaten consensus forecasts with their earnings, the highest percentage since 2008. Walmart, Home Depot and Macy's they will publish their figures throughout the day.
In other markets, the Petroleum West texas rises 0.1% to $ 65.45, while the euro it appreciates 0.02% and changes to $ 1.2143. In addition, the profitability of the 10-year American bond relaxes to 1.62% and the ounce of gold up 0.8% to $ 1,853. Finally, the bitcoin falls 1% to $ 45,050.
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