Tapering gives wings to Wall Street. The US indices opened sharply higher, towards new all-time highs. The S&P rises by 1,06%, to 1.670 points, thus surpassing the record close of May 21st (at 1.669,16 points), while the Dow Jones travels at 15.433 points, + 0,92% (the last highs were at 15.409,39 last May 28). The Nasdaq is up 1,10%.
Europe travels positive too, though Milano it reduced its gains and climbed by a meager 0,16%, weighed down by the political events and by the cut in the rating of S&P (which, however, this time did not overwhelm the markets, but did limited damage). London 0,59% salt, Frankfurt + 1,02% Paris + 0,73%.
Yes, because "tapering" is not "tightening". And this time Bernanke he clarified it so well as to leave no room for doubts or for different interpretations of the markets: any reduction in monthly bond purchases does not equate to a rise in interest rates, which, Bernanke said, will remain low until at least 2015. Also because, as Bernanke pointed out, the economy still needs help from the Fed. The data on American labor costs also arrived to reassure the markets, which by now Paradoxically, markets only interpret positively when they are sluggish and not too positive, precisely with a view to monitoring a future Fed disengagement from stimulus policy.
In fact, if unemployment were to drop vigorously, the time for the exit strategy would be approaching. Which means less liquidity on the markets. That's why the American price lists have not been intimidated by claims on unemployment benefits Surprisingly up 16.000 units to 360.000, the highest level since May. At the same time, data released today showed that the import price index fell by 0,2% after -0,7% in May. Analysts were betting on no change. On an annual basis there was an increase of 0,2%.
Oil drops 1,15%%, to 105,29 dollars a barrel, gold runs by 2,84%%, to 1.282 dollars an ounce, the euro-dollar exchange rate rises to 1,3020 (+0,32 ,2,53%). Mediaset shines in Piazza Affari (+2,13%). The appeal of Bpm continues for the moment (+1,52%), after Visco's exhortation to the large popular ones in favor of the transformation into a Spa. Eni +1,21%, Mediobanca +0,69%, Saipem +2 .2%. At the bottom of the list are A1,8A (-1,34%), Enel Green Power (-1,34%), Pirelli (-1%), Ansaldo Sts (-0,23%) and Autogrill (-XNUMX%). Rcs rises by XNUMX%.
