Bullish close on Wall Street, which extends its rebound for the second day in a row

Bullish close on Wall Street, which extends its rebound for the second day in a row

Wall Street has closed higher (Dow Jones: + 0.74%; S&P 500: + 1.02%; Nasdaq: + 1.18%)

After a flat start and after the strong rebound on Tuesday , which ended to three days of losses for the New York indices. Investors have continued to buy when any correction occurs despite the expansion of the Omicron variant , the problems of Joe Biden to approve his social spending plan and the monetary tightening announced by the Federal Reserve (Fed) to contain inflation.

“Despite the new tightening measures, many investors believe that Ómicron will only have a temporary impact on economic activity and should not be a problem for the overall positive trend in equities,” said Ipek Ozkardeskaya, analyst at Swissquote.

In addition, the FDA approved this Wednesday the anti-Covid pill from Pfizer and Merck , which has meant ” another brake on the pandemic and perhaps a new milestone in humanity’s fight against the virus, ” said this expert. As published by ‘CNBC’, the drug could be available to patients this weekend . According to the agency, the pill is aimed at people over 12 years of age with a great risk of being hospitalized by Covid.

This Wednesday, investors have been attentive to various economic data. On the one hand, there is the final revision of the GDP for the third quarter in the United States, which has shown an improvement in the reading of economic growth, to 2.3% , from the previous 2.1%. The forecasts did not expect changes in this regard.

However, the slowdown in growth has been confirmed, since in the first half of 2021 it had rises of 6.5% on average.

On the other hand, the activity index of the Chicago Fed has been known , which has stood at 0.37 from the previous 0.75.

In other notable references, the World Bank has cut its growth forecast for China in 2021 and has anticipated downside risks to its estimate of a GDP advance of 5.1% in 2022.

” Real GDP growth is expected to reach 8.0% this year, 0.5 percentage points lower than the previous forecast . Growth is projected to moderate to 5.1% in 2022, closer to its potential , reflecting less favorable base effects, less support from exports, and the continued efforts of the Government to reduce the leverage of the economy, “the World Bank (WB) pointed out in its report on China.

On the geostrategic scene, Vladimir Putin has threatened NATO with a military response if the organization continues to aspire for Ukraine to join its Atlantic security and defense alliance.


By technical analysis, the correction of the last few days has completely fitted within the normal parameters in the exchanges. The S&P 500 marked a minimum this Monday at 4,531 points, although this Tuesday it closed at 4,649 integers, very close to its all-time high of 4,743.

” As long as the S&P 500 respects the 4,495 points, nothing has happened here ,” argued José María Rodríguez, an analyst at Bolsamanía. “The support to be respected is found at the lows of the session on December 3,” added this expert.

Therefore, only if the index loses that price level , would it be confirming a bearish figure in the form of a ‘double top’ that would open the door to a new corrective leg for the main world indicator. “Once again, when they are bad given, Wall Street is the best hold the type “, has concluded our expert.


At the business level, the CEO of Tesla, Elon Musk , has assured that he has already sold ” enough shares ” to reach his plan to sell 10% of the shares he controls in the electric car manufacturer. After that, this Tuesday it has risen almost 7.5%.

Alibaba dropped more than 4% after Atlantic Equities downgraded the Chinese company’s shares from “overweight” to “neutral.”

In other markets, a barrel of West Texas oil rose 2.54% to $ 72.96. In addition, the euro appreciates 0.44% and changes to 1.1333 dollars. And the ounce of gold advances 0.96%, to 1,806 dollars, while the yield of the American 10-year bond falls to 1,457%. Finally, bitcoin grows 0.66%, to $ 48,893.


Samuel Edwards
Samuel Edwards is the name you must have heard many times while reading reports related to Finance, that's what he is good at. From Major Investments to Stock Market Updates, he got 'em all. Be ready to blow your mind by the mind-blowing reports of Finance World from Samuel Edwards.