Wall Street has bounced with enthusiasm this Friday (Dow Jones:+0.78%; S&P500:+1.00%; Nasdaq:+1.51%) after the losses on Thursday due to the downward pressure of Apple. This, after the last inflation data and the good figures presented by the big banks at the start of the fourth quarter earnings season. Now, the market is preparing for the return of Donald Trump to the White House, which will take place next Monday. Thus, in the weekly calculationthe New York indices have ended a week on the rise, with gains of 3.69% for the Dow Jones and advances of 2.91% and 2.45% for the S&P 500 and the Nasdaqrespectively. In this Friday's session, technology stocks have been the most bullishalthough they have fallen further behind in the weekly count. Semiconductor companies ended the week higher, boosted by strong Intel earningswhich has skyrocketed due to purchase rumors. Furthermore, US equities were boosted throughout the week by the good macro data and for the first accounts of the results season. «The good news is causing a positive reaction from investorsand the encouraging results maintain demand in certain sectors. However, the greatest gains are seen in areas benefiting from lower valuationssuch as sovereign bonds and cyclical stocks, instead of their highly valued technological peers,» assesses Ipek Ozkardeskaya, senior analyst at Swissquote Bank. However, the expert warns that taking a quick look at the CPI metrics in the US, «confirms concerns that US inflation is trending downward at a relatively slow speed. Energy and goods inflation is under control, but basic services inflation remains quite sticky.» «And Donald Trump's tariff threats and plans to shake up the energy space with more sanctions against oil-producing countries such as Iran, Russia and Venezuela, threaten to maintain upward pressure on oil prices this year,» he adds. In this sense, on Thursday the market also continued very closely the intervention before the Senate of President-elect Trump's candidate to Treasury Secretary Scott Bessentwho was asked about his plans for the new administration «and that defended, with some nuances, the tariff policy that he intends to implement in the new US government,» they say from Link Securities. «In his speech, without major news while waiting for Trump to take office as president next Monday, January 20, he stressed the importance of extending 2017 tax cuts that expire at the end of 2025, support for independence of the Federal Reserve (Fed) already new sanctions on Russian crude oilas well as the protection of supply chains and the dollar, which is expected to remain the dominant reserve currency globally,» they explain in Renta 4 Banco.
NASDAQ 100 TECHNICAL ANALYSIS
He Nasdaq 100 is located in full correction after drawing historical highs at 22,133 points. «Since then, he has drawn a bearish channel who is still alive today. To confirm the end of it and the beginning of a new bullish momentum we should wait for the overcoming the resistance of 21,703 points. This would put an end to the short-term bearish channel and would make us think about an extension of the increases until the level of 22,133 points«explains César Nuez, technical analyst at BitcoinDynamic. Therefore, he believes that Exceeding these prices would leave it free to rise«with the path clear so that we can end up seeing an extension of the climbs to the 23,000 point level. Below, key support is at 20,135 points. «We will not see a sign of weakness as long as it continues to trade above this price level.»
COMPANIES AND OTHER MARKETS
At the business level, Applied Materials has risen 2.99% after KeyBanc Capital Markets raised up to 'overweight' your advice about the company. Besides, Intel shares have soared 9.25% given the information that assures that a company would be very interested in buying the technology company based in Santa Clara. In other markets, oil West Texas has fallen by 0.81% ($78.04) and the Brent has fallen 0.58% ($80.83). For his part, the euro has depreciated 0.22% ($1.0275), and the ounce of gold has decreased by 0.39% ($2,740). Furthermore, the 10-year American bond yield has rebounded to 4.617% and the bitcoin has gained 4.41% ($104,858).
