Wall Street is party. The main references listed in the Big Apple They bounced back, and experienced a week marked by a new rally bullish trend, which led the S&P 500 and the Dow Jones to reach new all-time highs, led by the rise in the Nasdaq 100, which did not set a new record, but finally regained its 20% increase this year. Meanwhile, on this side of the Atlantic, Old Continent stocks are also rebounding from declines last week due to escalating military tensions in the Middle East. Nevertheless, the increases marked by these indices in the weekly count are slight, given the caution of investors who were awaiting the start of the new results season, which began this Friday with Wall Street banks as well as the next meeting. you with the European Central Bank (ECB). The market was particularly cautious with the Ibex 35, even if the Spanish index ended this week with an increase of 0.5%, to 11,724 points.
The start of this week was not colored of Green. On Monday, Chinese stock markets returned from their vacation Golden weeka holiday that commemorates the founding of the People’s Republic, but they found an obstacle to their upward trend due to the lack of new references on the recovery plan promised by its central bank. China infected the rest of the indices which had benefited from a possible reactivation of its economy, notably dragging down the European luxury sector. An announcement from the Chinese government is expected this weekend indicating the next steps in this attempt at economic acceleration.
However, US indices saw their prices rise thanks to companies get in the car of artificial intelligence, after suffering a temporary loss of investor confidence. THE FStrong employment in the U.S. economy has been key to the sector’s progress, as it has limited analysts’ expectations that the U.S. Federal Reserve will continue its aggressive rate-cutting policy. And these companies are regaining confidence, after the latest drop in oil prices.
Furthermore, the latest inflation data in the region released on Thursday negatively surprised the market, up to 2.4% over one yearwhile analysts expected it would not exceed 2.3%. On the other hand, the figure for the month of September amounts to 0.3%. This was seen as a sign that the Fed would not accelerate the fall in the price of silver, thereby creating distance over the direction the European Central Bank’s monetary policy might take. Experts predict that the European Central Bank will make a further reduction at its next meeting, scheduled for the end of October, although this is not a given.
Rise of technology
This week, the Nasdaq 100 is crowned the most bullish index on Wall Street at the European close, recording an increase of 2.3% over the last five days which leads it to recover this 20% annual increase that it lost last August. The values that push this index the most are those linked to the development of microchips, as is the case of Super Micro with an increase of 13%, Nvidia with its 8%, Synopsis and ARM with respectively 7% and 6.3%. increase.
Now, the tech selective is only 2% away from its annual highs, according to analysts and director of Ecotrader, Joan Cabrero. “The Nasdaq 100 has been hesitant for weeks to return to the highs it established in mid-July around 20,690 points and everything indicates that it will soon be able to attack this important resistance zone, which was the origin of the last relevant correction of the index”, says the analyst. Regarding the two other references, the expert asks for patience with the technology index, since it still remains to be seen “if the Nasdaq 100 manages to follow the upward trajectory of the S&P 500 and the Dow Jones Industrial, marking new all-time highs during the period.” 20,690 pointswhich is a goal he will most likely achieve in the near future”, which in this case would become “a trio of aces, which would be a clear winning hand in favor of bullish continuity in the coming months”.
The American benchmark index, the S&P 500, keeps pace with its counterpart and scores 2%, shines reaching new all-time highs the 5,810 points. This week he managed to record his greatest distance from Europe. For its part, the most industrialized index, the Dow Jones, also increases by 2% each week, remains above 40,790, its new highs.
In Europe, as previously indicated, the increases are lighter, with one exception: the Milan stock exchange, which follows the pace of the United States. The FTSE Mib index is the most optimistic on the entire continent, with an increase of 1.5% over this period. The Dax comes in second place, although the index reaches 0.6% on a weekly basis, despite the fact that the German government has revised downwards its growth forecasts for this year thanks to the German CPI which was at at the expected level of 1.6%. Elsewhere, the EuroStoxx and Ibex 35 rose 0.4% and 0.2% respectively, although the Spanish stock market continues to hold the title of the most bullish on the continent at the annual level. Instead, the The FTSE 100 is the bottom of the group, down 0.7% over the week.
The most bullish and bearish of the ibexes
Ibex stocks are painted in two colors this week, with IAG the biggest beneficiary, Iberia’s parent company rising 3.2% over the five days. Ferrovial and Inditex increased by 3%, and the insurer Mapfre gained 2.4%. At the bottom of the table are the steel companies in the index, Acerinox and ArcelorMittal, with a decline of 4%. Grifols is not spared either, it is falling by 5% these days.
When it comes to currencies, the Euro has lost strength against the US currency, with the exchange rate holding around $1.09. Oil lost the levels it was showing and the barrel of Brent closed the session with a price of 79.3 dollars, below the 80.3 reached with the escalation of tensions in the Middle East.
