On the day we heard that another 5.2 million Americans applied for unemployment benefits, accumulating a total in the last four weeks of more than 20 million jobs lost in the USA, investors are sailing in waters with no defined current, although with a light wind of optimism, derived from a possible peak of the COVID-19 pandemic having already been reached, while Trump and several leaders of the main companies met to debate the resumption of economic activity. This theme is moreover the dominant one in the current market noise, even more than the results of the companies, not least because the banking sector that for now discloses its performance is one of the least exposed to the effects of the crisis.
The question on the table seems to be consensual, the motto is tests, tests and more tests. Companies will soon start to return their workers, and it is now to define what precautionary measures to adopt, namely the daily analysis, yes you read well, daily of each employee, which may be possible considering that some companies such as Abbott Laboratories are now starting to launch rapid, 15-minute tests, which in time will be able to achieve sufficient production to be feasible in part of the economy.
Photo by Tedward Quinn.
We will see how the week will end and if the S&P500 manages to end above the 200-period moving average, which would be a bullish indicator.
Marco Silva is a Financial Market Specialist with 20 years of experience, with transactions in 12 different countries, involving numerous financial instruments, Specialist in Technical Analysis, Capital Manager, Investment Advisor, Financial Hedging Operations and Algorithm trading developer. Economic Commentator TV and RTP Information for the Financial Markets, Responsible for the Department of Economy / Markets of TVL.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.