The Ibex climbs in search of the 10,100 following the wake of Wall Street
This Tuesday saw new historical highs in Nasdaq and S & P
- The selective Spanish continues clinging to the 10,000 but moves too close to key supports
- The Employment Report for December in the United States and the CPI for the Euro Zone that will be released this Friday will be two of the most relevant data of this week
The European stock exchanges register moderate ascents in this Wednesday session following the wake of Wall Street, where new maximums were seen (in Nasdaq and S & P) in the past day. The selective Spanish is doing everything possible to get to overcome 10,100 (levels that have played nothing else open), but it is costing. Do not forget, in addition, that the 9,900, key support, are 'just around the corner'.
Wall Street ended on Tuesday with rises of 1.5% on the Nasdaq and 0.8% on the S & P. The Dow Jones registered increases of 0.4%. The indexes have started the year on the other side of the Atlantic with new highs as investors anticipate solid growth in the United States during the next financial year. Of course, also the economic forecasts are good for Europe for this 2018. In general, experts expect that, given these good macro prospects, the increases in equities on both sides of the Atlantic will continue (although a correction is not ruled out, especially on Wall Street, after the strong advances). It should be noted that at the end of this week two important economic data will be released, one on the United States - the employment report for December - and the other on the Euro Zone - the CPI for November.
Meanwhile, oil is emerging as the great theme of this year's start in the markets. Crude oil on Tuesday recorded its best start to the year (with both references, Brent and West Texas, above $ 60) since 2014. Some experts say that this year could be the return of raw materials to the center stage, with oil reaching even $ 80 per barrel. According to statements by Yoon Chou Chong, head of Asian markets of Natixis Asset Management, to CNBC, the restricted production of the main oil producers and the "biggest boost" to maintain stability before the long-awaited Aramco IPO will support the prices this year. "The $ 80 level (does not) sounds too absurd," he added.
The strength of the euro is another issue of this beginning of 2018. The euro / dollar remains at this time above 1.20 (1,2033). "The strength shown by the euro at the beginning of the year has had much to do with the statements of several members of the ECB Governing Council, in which they bet on ending the asset purchase program when it ends in September, provided that the The economy of the Euro Zone maintains its current strength, and despite the fact that inflation has not reached the target of being close to 2% at that time, "the experts at Link Securities point out in their daily report.
The agenda of the day brings several references of interest. In Spain, unemployment fell by 290,193 people in 2017, its fifth annual decline. Germany also publishes its unemployment data for December. In addition, in the United States, the manufacturing ISM for December and the construction spending data for November will be known. Of course, we must not forget the minutes of the last meeting of the Federal Reserve (Fed), which raised the rates by 0.25%, which will be announced with the European stock exchanges already closed. "The minutes of the meeting will give us an idea of what the central bank members think but they have less weight given that the composition of the Fed changes in the coming months," says David Madden, market analyst at CMC Markets in the United Kingdom. .
Finally, it should be noted that Mifid2 is officially the new regulation in Europe as of this Wednesday. "This could mean less liquidity in the market in the coming days as operators and asset managers adapt to new regulations and rules in real time," says Madden.