Sunday, October 2

Wall Street futures bet again on a green opening

The increase in inflation and the expansion of the Omicron variant does not seem to be having great relevance among investors, who after the Christmas holidays are still optimistic and are betting on purchases on the US market.

Yesterday’s session ended with all the indicators in green and setting new records. For its part, the S&P 500 hit a new record after gaining 1.38% or 65.40 integers, up to 4,791.19 points, thus marking his 69th record so far this year, with another record also in his interday record, the first in more than a month. As for the Dow Jones, the index added 0.98% or 351.82 points, to 36,302.38 units. The market’s technology index, the Nasdaq, rose 1.4% or 217.89 points to close at 15,871.26 points.

At the sectoral level, the good performance of the technology sector, driven by the strength shown by semiconductor companies, while the utilities sector was the worst performer during the session in both regions. In addition, energy sector stocks ended the day with strong gains following the upward turn in the price of oil during the session.

Today, the New York Stock Exchange maintains the same trend and there is a bullish pre-opening for all its indices. Dow Jones futures are up 0.25%, S&P 500 futures 0.26% and Nasdaq futures 0.44%.

Likewise, the S&P 500 has risen 27.6% during the year and the Nasdaq 23.1%. The Dow Jones is the furthest behind with an increase of 18.6%.

Stocks fell in late November, in part due to the rise in the omicron variant of Covid-19, but have since rallied as governments have largely avoided reinstating strict social distancing measures.

Regarding the macroeconomic data, the last week of the year is quiet and today the October reading of the housing price index stands out. In addition, the Chicago PMI will be released on Thursday, which includes both the manufacturing sector and the service sectors.

The Federal Reserve’s underlying personal consumption expenditure (PCE) index rose 0.6% in November from the previous month. The basic PCE rose 4.7% year-on-year in November, above the expected rate of 4.5%.

At the moment, the sector most affected by the covid crisis is being the airlines, which canceled more than a thousand flights yesterday, the fourth consecutive day of cancellations caused by the advance of the omicron variant.

As for oil, we see the futures of the Brent barrel with advances of 1.36% in the 79.25 dollars and those of the West Texas add 1.51% until the 76.70 dollars. The euro rises a slight 0.03% and is exchanged for 1.1327 EUR / USD, while the profitability of the 10-year American bond rebounds to 1.486%.

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