Thanks to the words of Janet Yellenat the Senate hearing, Business Square in the finale it erased its losses and closed up 0,11%. The increases are confirmed by the other European markets, leaving behind the data on the GDP of the Eurozone, while Wall Street reaches new records with the S&P500 which reaches 1.787 points. Paris +1,04%, Frankfurt +1,05%, London +0,54%.
The euro-dollar exchange rate is trading at 1,3474. WTI oil falls by 1,43% and gold rises by 1,67% to 1.289 dollars a barrel. In a Senate hearing, future Fed Governor Janet Yellen reiterated that the Fed will do everything possible "to support the economic recovery by guaranteeing price stability". Yellen explained that there are risks to either ending the plan to buy Treasuries and mortgage bonds too soon or holding it too long. The important thing, she said, is not to remove support when the economy is still fragile. Not only. For Yellen, the door is open to further rate cuts. At the moment, the stock market is not bubble territory for Yellen, noting that the financial system is more robust and secure today than it was before the 2008 crisis.
On the front of macro data claims for unemployment benefits they dropped but less than expected. In detail, they fell by 2 units to 339 from 341. Analysts were aiming for a drop to 330.000. Productivity in the third quarter grew but less than expected and the trade deficit widened as exports fell. WalMar closed the third quarter with lower-than-expected sales. In the fourth quarter, the group expects stable sales in the USA, its main market.
In Piazza Affari, another bad day for the banks Banco Popolare -2,54%, Unicredit -0,5%, Ubi -1,3%, Bpm -1%. In contrast, pending the quarterly accounts, it rises by 2,05%. At the bottom of the Ftse Mib, however, there is Tod's vhe dropped 4,4% after accounts that disappointed the market, Ferragamo also down -2,46%, Campari -2,97, Auitogrill -2,34%. In evidence Fonsai +3,83% supported by the return to profit, Wdf +2,18%, Ansaldo +1,98%, Cnh +1,31%
