Is the big landslide over? Or, before it gets better, will things get even worse? Wall Street opens its doors today after seven weeks in the red. We need to go back to 2001 to find a worse result. Only in 1932, in full recession, the streak of declines lasted for 8 weeks. Perhaps for this precedent this morning futures signal a timid rise, in line with the rebound which on Friday evening made it possible to avoid closing below the threshold which marks entry into the bear phase. Many investors believe it: in the last six weeks, Catie Woods' Ark Innovation fund, one of the most targeted by declines, has raised 977 million dollars. But, beyond the statistics, the rising inflation with the relative increase in rates does not bode well. And, informs us the Wall Street Journal, "Goldman Sachs Distributes Handbook of US Stocks to Clients in Times of Recession."
Asian markets are off to a weak start this morning. The CSI 1 in price lists falls by 300%. Shanghai e Shenzen. The Nikkei rises by Tokyo (+0,7%) on the day of arrival in Japan of Joe Biden. The president of the United States, during the second leg of his trip to Asia, is expected to announce the Indo-Pacific Economic Framework (Ipef), an investment and strengthening trade relationship plan between Washington and the other economies of the area: at least initially, there will be no Taiwan.
Kospi of Alone unchanged. Biden, in his Korean stop, visited the headquarters of Samsung.
The stock market moved littleAustralia after Labor's electoral victory in the elections: it is the first success for the party since 2007. The new prime minister, Anthony Albanese, was sworn in before leaving for the Tokyo summit.
Il dollar weakens against the main reference currencies. Dollar Index -0,4%. Japanese yen +0,3%. The Australian dollar (+0,7%), the pound (+0,5%) and the euro (+0,3%) rose.
Il Petroleum WTI is up 0,6% to $111. Brent at $113. back to topgold, at $1.854. It holds thirty thousand the bitcoin, this morning +1%.
19 blue chips cut the coupon
Dividend Day is celebrated in Piazza Affari. 55 listed companies pay dividends, including 19 blue chips out of 40 members of the FTSEMIB. The detachment will have an impact of around 1,45% on the blue chip index: the weight of the coupon will be around 345 index points on the FTSEMIB. A little less than ten billion euros will end up in the pockets of the shareholders.
[Read also - Dividends May 23, 2022: the yield ranking of the Ftse Mib. From Eni to Intesa, it's raining coupons]
Zelensky inaugurates Davos, then the Sheikh of Qatar speaks
From today to Friday in Davos over 3 thousand managers will revive one of the key appointments of the globalization season inaugurated by a message from the Ukrainian premier Zelensky. Italy will be represented by four ministers: Daniele Franco (Economy), Roberto Cingolani (Ecological transition), Enrico Giovannini (Infrastructure and sustainable mobility) and Vittorio Colao (Technological innovation and digital transition). The speech of the Emir of Qatar Al Thani and the director of the International Monetary Fund Kristalina Georgieva is expected today. Wednesday will be the turn of Christine Lagarde
Speeches on inflation by several members of the board are expected at the ECB today: Holzmann, Nagel and Villeroy. Bailey of the Bank of England will also speak.
The EU recommendations to Italy are coming. Salvini rises up
The recommendations from the EU Commission are expected today, which will ask the Italian government to implement the Pnrr in order not to risk recession, limit the growth of spending to reduce debt and expand public investments for the transition, and finally reduce the tax wedge on Work. However, the leader of the League Matteo Salvini has already returned the EU warnings on taxation and reforms to the sender.
The European Commission will present the economic package of the European Semester with the decision on the extension of the suspension of the fiscal rules also for 2023.
The minutes of the Fed and the GDP of Germany and the USA are arriving
Wednesday all eyes will be on the minutes of the latest Fed directive which could better clarify the direction of future monetary policy of the US central institute.
The final data on the GDP of Germany and the United States in the first quarter are also being published after the preliminary estimates communicated in April.
Eni announces 2,5 billion investments in the United Kingdom
Eni has announced investments of 2,5 billion euros in the United Kingdom over the next 4 years. 80% will be allocated to decarbonisation measures, the rest to the exploration of hydrocarbons.
