Wall Street has bounced this Friday (Dow Jones:+1.63%; S&P500:+1.81%; Nasdaq:+2.06%) After the strong losses Thursday, in a scenario of Maximum tariff tension between the US and Chinaabove all, after The Asian giant has raised its rates on US products at 125% As of this Saturday, April 12. Although he has advanced that It will no longer upload them. «Even if the United States continues to impose higher tariffs, It will no longer make economic sense and will become a joke in the history of the world economy«, has reported the Commission of Customs Tariffs of the State Council in a statement.» Since There is no longer any possibility of acceptance in the market for US products exported to China Under the current tariff levels, if the American part continues to impose tariffs on Chinese products exported to the US, the Chinese part will not pay attention to them, «he added. With the rise on Friday, New York indices end a week of purchaseswhich has also been very volatile, with 4.95% profits for Dow Jones and advances of 5.70% and 7.29% for the S&P 500 and Nasdaq, respectively. In this sense, Link Securities experts comment that «The fact that the commercial relationship between the USA and Chinathe two main economies of the world, Be completely broken -ridiculous, close to 100%, make trade unfeasible or extremely complex the trade between the two countries-, leave many unknowns openmaintaining uncertainty about the potential impact that all this can end up having on supply chains, inflation and global economic growth. «All this is also causing great tension in the Bond market. «The fact that volatility extends to government bond markets is not good newssince it affects the market sectors that you (as a government) want to keep safe, such as pension funds, for example. Therefore, I think that if Trump's reverse does not calm the nerves of investors in bonds, The Fed will be the following to intervene«indicates Ipek Ozkardeskaya, Swissquote Bank's senior analyst. Faced with these concerns, Boston Federal Reserve (Fed), Susan Collinshe assured this Friday that The Central Bank is «absolutely prepared» to intervene In the market if it requires stabilization. «We have had to display various tools quite quickly. We would be absolutely prepared to do it as necessary«He said.
The results season starts
In the business level, this Friday the First quarter season With the accounts of the big banks such as Wells Fargo, JP Morgan, Blackrock either Morgan Stanley.
JP Morgan Chase It has exceeded expectations. In the first quarter of the year, the entity has earned $ 14.6 billion, 9% more. Its president and CEO, Jamie Dimonhe has warned that The US economy faces «considerable turbulence».
Wells Fargo It has also broken forecasts with its results from the first quarter of the year, a period in which the entity has obtained a Net profit of 4,894 million dollarswhich is a 5.95% increase compared to the 4,619 million dollars recorded until March last year. In the same way, the figures of Blackrock They meet market expectations, although Larry FinkCEO and president of the firm, has launched a warning to the «uncertainty and anxiety about the future of markets and the economy are dominating conversations with customers «and compares the current situation with the financial crisis of 2008 or the Covid-19 pandemia. The net benefit of Morgan Stanley has reached the 4.3 billion dollars In the first quarter compared to the 3,400 million registered in the same period of the previous year, exceeding the expectations of Wall Street analysts.
Outstanding references
From the macro point of view, the agenda has also incorporated outstanding references such as March production prices, that have surprised down with a 2.7%drop. Although the market has focused on 12 months inflation expectations which collects the University of Michigan in its survey on consumer confidence, which have shot up until 1981. «The confidence of the University of Michigan is very important because It was the first American advanced indicator that on March 14 showed a strong weakening (57.9 from 64.7, but then reviewed up to 57.0) and with serious rebounds of its inflation expectations components for 5 years ( +3.9%, later reviewed up to +4.1%) and 1 year ( +4.9%, also reviewed later to +5.0%), «they say in Bankinter.
Technical Analysis of Dow Jones
He Dow Jones It has left about 20% since drawing the historical maximums at the beginning of February. The last strong falls have taken him to leave the average of 200 sessionsconfirming a change in trend. «The last increases correspond only to a rebound and that is, To confirm a strength signal, we should wait for the overcoming of the resistance of the 42,821 points. A closure above this price level would involve a substantial improvement of its technical perspectives, and it would return to the Alcista path, «says César Nuez, an analyst for 'BitcoinDynamic'.» The key support is located at 36,611 pointsminimum of this last Monday. Be careful that the abandonment of this price level would be a very bad sign that would make us think of a change in trend, «he adds.
Other markets
In other markets, oil West Texas has risen 2.73% ($ 61.72) and Brent has climbed 2.56% ($ 64.96). For its part, the euro 1.22% ($ 1,1334) has been appreciated, and ounce of gold has won 2.19% ($ 3,247). In addition, the 10 -year American Bonus Profitability It has revalued 4,472% and the Bitcoin has added 5.21% ($ 83,652).
