US futures were up by 0.4% after the Nasdaq record.
Inflation indicators this week will be important for investors. Employment data last Friday really liked the market. Job creation without inflationary pressures on wages is very positive.
Futures indices Wall Street anticipate a 0.4% higher open after the record high achieved last Friday on Nasdaq. Because of the time change in the US, the New York Stock Exchange opens at 14:30 Spanish time during the next two weeks and will close at 21 pm (until Spain change its schedule on March 25).
Investors welcomed with renewed optimism employment data published last Friday in the US, since the creation of jobs remained strong, increased the participation rate in the labor market while inflationary pressures eased in wages which he had worried the market in recent weeks.
Since the publication of employment data in January, he ran for the bags fear that rising wages forced the Federal Reserve (Fed) to tighten faster monetary policy than expected, but for now this fear has been dissipated (at least temporarily) with the February data.
In this scenario, investors await the general inflation indicators published Tuesday. Consensus expected February CPI rise 0.2% to an annual rate of 2.2%. And monthly core inflation up 0.2% to 1.8% year.
In business today, one of the day’s news is that Saudi Aramco, the oil giant controlled by Saudi Arabia, has returned to delay its plan to go public until 2019, according to Financial Times, in particular to the first or the second quarter of next year.
In addition, according to The Wall Street Journal, Intel, the world’s largest chip maker, is studying making an offer for Broadcom if it finally succeeds in buying Qualcomm. Broadcom shares rose by 2.5% following the news.
Moreover, analysts at Deutsche Bank have risen 4% of Microsoft price target to $ 120 per share. In his view, the technology giant has good growth prospects both in its Office business division and in its Azure cloud computing.
In the currency market, the euro appreciated 0.04% to $ 1.2312 (annual maximum $ 1.2536). For technical analysts ‘Bolsamania’, the maximum annual “may end up becoming a major resistance area in the medium term”.
In the commodities market, West Texas oil fell 0.4% to $ 61.77, while Brent crude yields 0.5% to $ 65.13 (annual maximum $ 70.78). Meanwhile, an ounce of gold falls 0.5% to $ 1,317 ($ 1370.5 annual maximum). In the debt market, the yield of US 10-year bond rebounded to 2,904% (annual maximum at 2,956%).
NASDAQ IN MAXIMUM
Nasdaq already appreciates 9.5% so far year and still shows a much more positive behavior that the overall market (the Dow up 2.5% while the S & P 500 advances 4.5%) .
“Technological selective reprises his free rise and is likely to end up seeing in the coming weeks, further gains to the level of 7,500 points,” says Cesar Nuez analyst ‘Bolsamania’.
“We will not see even the slightest sign of weakness while it trades above 6,645 points (March lows), while key support is at 6,164 points, through which the 200 day moving average” adds the expert.