The negative data on the US labor market announced on Friday (unemployment at 6,1%, only 266 new jobs against the 970 expected) convinced traders that the Fed will not reduce market purchases for quite a while. at least until December. Hence, a start to the week in Asia under the banner of Taurus. Meanwhile, the prices of oil and its derivatives are rising in the wake of the cyber-attack that has sent the distribution network of a large part of the United States into a tailspin. The Asia Pacific index rose 0,35% this morning. Futures on US stock exchanges also rose.
KOREA AND AUSTRALIA AT THE HIGHEST
Leading the race are the Korean Kospi index (+1,5%) and Australia, at their highest for 14 months. Japan and India also did well, both up by half a point.
CHINA GIVES OXYGEN TO THE HONG KONG LIST
The Hang Seng of Hong Kong and the CSI 300 of the Shanghai and Shenzen lists decreased slightly. The Chinese authorities have approved a measure to restore oxygen to the Hong Kong price list, which is in difficulty after the break with the US. The Financial Times reports that a measure is being studied to facilitate investment by individuals residing in some of the richest cities in funds, ETFs and other financial instruments accessible only to Hong Kong residents,
The 1,5983-year T bond recovered positions, at 1,4690%, after Friday's slide to 0,21%. Bunds down -XNUMX%.
WTI oil prices surge to $65,66 (+1,17%). Brent just under $70.
A CYBER ATTACK KILLS THE US OIL PIPELINE
On Friday evening, a cyber attack attributed to the criminal gang called DarkSide knocked out the Colonial Pipeline, the oil pipeline (8.850 km, from Texas to New Jersey) which distributes 45% of the petrol and diesel destined for the east coast market, including New York, Washington and Atlantia airport (the most important in the USA, where 2,5 million barrels of oil travel a day).
THE BEST BAG? BRAZIL VICTIM OF COVID
The apparent paradox of the markets rising in the face of a negative economic data is not the only one to characterize the situation. The most toned stock market on the planet in the past week was that of Brazil, albeit upset by the pandemic. The Bovespa index of the San Paolo Stock Exchange closed with an increase of more than 5% (in euros) after the announcement that the US is willing to give up patents on Covid-19. In Europe, Madrid stood out with +2,80%. In Milan, the FtseMib stops at +1,80%.
A positive opening is looming also for the European lists. The declarations of Volkswagen's financial director contribute to reducing fears about inflation: in the coming months, he says, there should be no large-scale wage increases.
US CONSUMER PRICES TEST
The most important macro appointment of the week concerns inflation. On Wednesday, the American Institute of Labor will publish data on consumer price trends in the United States, intended to fuel the debate on the Fed's "soft" attitude on prices. Also keep an eye on Chinese inflation: statistics on the impact of raw materials on producer prices will be released on Wednesday, estimated to rise by 6,5%, the highest since 2017.
Also on Wednesday, data on the monthly growth of the US GDP will be announced: an increase of 1,3% is expected, an acceleration compared to February (+0,4). But the figure for the quarter is still red.
ITALY, INDUSTRIAL PRODUCTION UNDER EXAMINATION
For Italy, the signs of recovery can be confirmed tomorrow, when the National Institute of Statistics will release its latest snapshot of industrial production and the performance of the national economy between March and April 2021.
SPOTLIGHT ON LONDON, WALT DISNEY ACCOUNTS AND AIRBNB
Watch the reaction of the markets to the British elections today. Boris Johnson triumphant in England (but London remains in the hands of Saddiq Kahn and Manchester is confirmed as Labor) is grappling with the probable request for a referendum from the Scottish independence activists, who narrowly missed the absolute majority but are counting on the alliance with the Greens.
Week full of corporate events. The US accounts campaign is coming to an end: only Walt Disney and Airbnb are in the limelight, testing the speed of tourism recovery.
In the spotlight in Asia Alibaba and the car accounts: Nissan starts on Tuesday, followed by Toyota and Honda.
RAIN OF QUARTERLY REPORTS AT PIAZZA AFFARI, LEONARDO'S MEETING
Rain of accounts in Milan on the MTA, STAR and AIM Italia companies. There will be 21 companies that will detach the dividend on May 10: of these, 5 are from AIM Italia. In particular, the separate dividend from Conafi guarantees a yield of around 7%. Also noteworthy is the remuneration in two tranches of Equita, at 6,60%.
To follow Avio (2,04% dividend) leader of the Italian presence in the space industry. To follow Leonardo's assembly.
A DAY OF PASSION AHEAD FOR JUVENTUS
A new day of passion for the Juventus title looms after yet another landslide of the team which compromised access to European competitions with a deadweight loss of 50 million.
DOGECOIN IN ROUTE AFTER THE ELON MUSK SHOW
Much better than the black and white tribulations was the show ensured twenty-four hours earlier by Elon Musk who, the first finance figure invited to the Saturday Night Show, he teased himself, he joked about his son's name (X A-12 but "pronounced cat running on the keyboard") and then admitted live that he was suffering from Asperger's syndrome. Dressed all in black, casual like a Hollywood star, he called his mother, Maye, a beautiful Canadian former model and nutrition guru, on stage. “I'm excited about the idea of mom's gift,” she joked. “I just hope you are not a Dogecoin…“. And he replied curtly: "Of course she is, for sure". Then, it is not known whether as a joke or not, he called the Doge "a scam".
The virtual currency gained positions up to a value of 90 billion dollars before falling to 72 billion before the end of the show. “I am aware – added Musk – that sometimes I post strange things: to anyone I have offended, I just want to remind you that I have reinvented electric cars and I am sending people to Mars”. During the show the Chinese rocket exploded. “Musk agreed to be our guest – they commented on CBS – because he needed an alibi”.
