With just a few days to start another earnings season and with the issue of trade war in the background, the Bulls attacked yesterday and today the sector that has been pulling the market the most since the financial crisis is ‘technology’. Specifically in the so-called FAANG, namely Facebook, Apple, Amazon, Netflix and Google, which yesterday posted appreciations well above average, ranging between 0.8% gain in Apple and 3% rise in Netflix securities, with average of approximately 1.9%, allowing the Nasdaq technology index to perform best of the day by gaining 0.56% against the 0.24% of the Dow Jones. Particularity when all major indices started the week at red and ended the session in green, with a slight upward trend, but very stable from the initial touch to the final minute.
Photo by Thibault Penin.
The tranquillity was such that it led to investors’ lack of interest in safe haven assets, a sector in the equity segment that was “in the middle of the table”, while the Yen ended with losses of -0.3% against the US dollar to 108.37, gold is a different story, strong buying pressure, which was felt with some intensity at the beginning of the day, eventually emptied, reducing to less than half the gains made in the first hour that pushed the price of the precious metal to seven-year highs.
