Wall street quotes mixed. The major US indices are trying, not without difficulty, to decisively extend their May rally. Only the Nasdaq is green, despite the session started on the downside. The index has turned around after knowing the US manufacturing PMI.
The data is somewhat more positive than that registered in April. “With the growing number of companies restarting production, we should see some improvement in the exit trend in the coming months, and it is reassuring to see signs that the recession is already beginning to ease,” says Chris Williamson of IHS.
But not everyone is so optimistic, “nothing that has happened since Friday’s close has been positive for the market, “ National Securities experts acknowledge.
“When you think seriously about China-USA and add to it the crisis that almost all the main cities in the world are facing right now …”, they add. “At current levels, we would not be surprised if the market takes a breather and draws a ‘pull back’,” they add.
“The biggest risk that stock markets face is a second wave of the outbreak,” recognized from BCA Research. “If fears escalate again, risky assets will suffer the most,” they clarify. “Even if a vaccine doesn’t arrive until the end of the year, tests should allow for a better containment strategy,” they say.
More than six million cases have been diagnosed on a global scale. Of these, 1.7 million are in the US, according to data provided by the country itself. Novavax, one of the most promising companies regarding a potential vaccine, is going ahead with its Phase 1 clinical trials.
Across the Atlantic, the Ibex begins the month with increases and MásMóvil shot at the takeover bid of KKR, Cinven and Providence. Finally, in Asia the stock markets have closed with strong rebounds in the heat of the good macro data published by China.