Pending the hearing of Jerome Powell before a subcommittee of the Chamber, the European stock exchanges give life to an anonymous session that does not amplify the technical rebound
occurred at the beginning of the week: only theAEX in fact, Amsterdam closed with a clear positive sign, while Frankfurt, London and Paris recorded limited gains and Piazza Affari even closed in red in the FTSE MIB. From the drafts of the speech that the
Federal Reserve number one earth ‘in the evening reassurances arrived on the support of the central bank for the recovery, but there were no indications that could change the cautious attitude of the financial markets. However, the purchases have rewarded mining, energy and chemicals, while in Milan it was above all the bankers
responsible for the overall weak performance.
Wall Street flat, GameStop flies
Wall Street flat after the rally on Monday 21 June that brought the Dow Jones to his own maximum from October 2020. Investors’ eyes are on the hearing of Federal Reserve Chairman Jerome Powell in the House of Representatives where he will answer questions from legislators on the response implemented by the Central Bank in response to the crisis generated by Covid-19. Also the infrastructure plan by US President Joe Biden will be at the center of Washington’s agenda this week. The initial $ 4 trillion spending plan was scaled back by a bipartisan Senate group to $ 2 trillion, but there are heavy divisions within Congress that could stand in the way of a united vote. Protagonist GameStop (+ 7%) after the company said it raised over $ 1 billion from the sale of shares. Delta airline also goes up after announcing it will hire 1,000 pilots ahead of summer travel. The data on the sales of existing homes, expected for the Italian 16, will offer a vision of how the American real estate market is doing.
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US, better than forecasts data on homes and manufacturing
From a macroeconomic point of view, better than forecasts home sales not new in May in the United States and above forecasts also theindex manufacturing measured by the Richmond Fed. Sales of existing homes still down in May, albeit less than estimates. It is the fourth consecutive month of declines for the indicator, compiled by the National Association of Realtors (Nar), which fell by 0.9% to 5.8 million units compared to the previous month when the the decline had been 2.7% at an annualized rate of 5.85 million units. Estimates predicted a figure of 5.73 million units.
Bitcoin: slips again, even reached the lows of 2021
Bitcoin also slips below 30 thousand dollars for the first time since the end of January, penalized by the Chinese government’s tightening on transactions carried out with the cryptocurrency. The prices, after reaching 29 thousand dollars, then returned to the 31 thousand area. While Bitcoin has remained on the rise since the beginning of the year, it is thus down by about 50% compared to the all-time high reached in mid-April at 64,870 dollars.
