MILANO – Wall Street prints new records on Biden’s Day in the White House. Starting from the Nasdaq record, which exceeded 13,457 points, registering, at the end of the session, an increase of 1.97%. Positive closing also for the Dow Jones, which finished trading with an increase of 0.83% to 31,188 points and the S&P 500, which gained 1.36% to 3,850 points.
The market barometer had already been oriented to good weather from the first testimony resa da Janet Yellen Tuesday evening: the former Fed president and next Secretary to the Treasury urged senators to quickly approve the $ 1.9 trillion of stimulus wanted by the new administration (“we must act big”) and in fact urged not to skimp on the deficit to get out before and better than the crisis, especially as long as the financing costs allow the interventions to be sustainable. Yellen hinted that there will be no sudden changes in policy towards China but broke Trump’s line by avoiding auspices for a weak dollar to make US companies more competitive.
After these indications, the European stock exchanges moved positively. At the end of the session, London marks a gain of 0.44%, Paris adds 0.53% e Frankfurt 0.81%. Salt also Milano: + 0.8% on closing. On Piazza Affari the Stellantis race continues, for the third day well in tune. A2a is also in evidence, after the presentation of the business plan, and Poste Italiane which acquired 51% of a Chinese company that works with e-commerce. Unicredit is doing well with banks in general.
Wall Street greeted the changing of the guard at the White House with new records for Nasdaq and S & P500. As the European markets close, the Dow Jones is up 0.5%, the S & P500 adds 1% and the Nasdaq is up 1.7%. Noteworthy is the performance of Netflix which confirms the indications of the after hours market with a double-digit percentage jump: the streaming platform closes the fourth quarter with subscribers growing by 8.51 million, above the expectations of analysts who bet on 6.06 million. 2020 closed with 200 million subscribers. Earnings per share stood at $ 1.19, below the market’s expected $ 1.38. Revenues rose to 6.64 billion.
Asian stock exchanges also traded in positive ground with the exception of Tokyo which lost 0.38% for profit taking. Rises in China: Shanghai + 0.5% and Shenzhen + 1.4%. The Central Bank of China left its reference rates unchanged: the primary 12-month rate was kept unchanged at 3.85%, the five-year loan rate remained at 4.65%. At the same time, the 7-day repo rate remained unchanged at 2.20%. Hong Kong positive by 0.1% with Alibaba which flies by 8.5% after the public reappearance of the founder Jack Ma whose traces had been lost since October.
Italy remains at the center of attention for the political crisis: after the count in the Senate which gave Prime Minister Conte a lame majority, lo spread it does not register fibrillations. It opens lower, then rises slightly at the end of the day to 114 points (it was 111 at yesterday’s close). The umbrella of the ECB to protect the public debt: tomorrow the Eurotower board meets for the first time in this 2021. No changes to monetary policy are expected, after the strengthening of the December interventions. L’euro it closes slightly down but always travels around $ 1.21 due to the increased risk appetite on the markets. The decline in political turmoil in Italy and the improvement in the Zew index in Germany also spurred the optimism of the markets. The euro changes hands at $ 1.2098 and yen 125.24. Dollar / yen down to 103.60.
Today’s macro agenda includes several ideas. Producer prices in Germany rose by 0.8% in December, more than expected, while Eurozone inflation remained stable at -0.3% annually in December.
Finally, among the raw materials Petroleum confirms its rise with the WTI at 53 dollars a barrel.