The American market continues to suffer today effects of the trade war between the United States and China. Chinese agencies have asked companies to freeze the purchase of North American products such as pork and soybeans, according to Bloomberg.
The measure comes as a reaction to the measures announced by Trump last Friday, which could see the end of the “special” character that Hong Kong has at the moment.
The American indices are trading negative today. The Dow Jones it falls 0.40% to 25,282 points; the S&P 500, meanwhile, we see how a quarter point falls in the 3,036 integers, while the Nasdaq 100 it is falling 0.03% in the 9.4876 integers.
This is how Wall Street opens
What is being quoted
There is uncertainty about what may happen between the United States and China in the coming weeks. They fear a flare-up of the trade war after the latest movements that we have seen in recent days on both sides.
Is about Skirmishes between the two governments that, according to trade experts, jeopardize the talks they are holding facing the next phase of the trade agreement that both countries are negotiating.
As if that were not enough, to this tension we must also add the effects of racial protests which, little by little, are spreading throughout the country. A situation that worries -and a lot- about the effects it can have for the North American economy.
Goldman Sachs He believes that the rally of the last days is going to continue and they are already talking about 3,200 points for the S&P 500. However, he does not rule out that things could worsen in the coming days and, therefore, we will see declines of up to 10% – which means reducing the figures by half compared to the last forecast.
Throughout the day there have been positive signs of recovery internationally thanks to PMIs. In Europe the sign has been mixed with some disappointment.
In a few minutes we will know the PMI data in the United States, which will tell us if, in fact, the United States is emerging from the crisis caused by Covid-19.
Amazon, Morgan Stanley raises the target price to $ 2,600 per share thanks to the good performance of the company due to the change in trend in consumption that is taking place in the country. It goes up half a point in the opening to $ 2,455 per share.
Gilead You have reported today that your testing of a Phase 3 Covid-19 medication is not progressing as expected. That has made their titles are trading down 3%.
Pfizer It also quotes bad data in Phase 3 trials of its treatment for breast cancer. Its shares are down nearly 7% at $ 35.54 a share.