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Retreating from all-time high - El Financiero

Retreating from all-time high – El Financiero

Shares in the United States fell in early trade on Monday after hitting record highs last week as some of the major companies will submit financial reports for the first quarter of 2021.

Dow Jones Industrial Average It decreased 0.39 percent to 34,666 points. S&P 500 Index It loses 0.2 percent, at 4,177 units Nasdaq And it decreased 0.22 percent to 14,21 points.

“S&P 500 and government bond yields are dropping amid concerns about a third wave of contagion. Markets will remain alert this week of the corporate reporting season in the first quarter of 2021 in the US, which also begins in Mexico,” he said.

They added, “They will be waiting for the progress of the vaccination process in the face of a new increase in cases in some areas. Viral mutations, which are believed to be the most contagious; And recent unfavorable news about AstraZeneca and J&J vaccines, which could delay progress. “

Monex analysts commented on “Equity markets are showing negative moves, after knowing little data on the economic calendar, but it is alert to the performance of companies in the corporate reporting season for the first quarter of 2021.”

They added, “In addition to these data, investors remain optimistic about the vaccination rate worldwide, and they expect important developments in the coming weeks.”

In the case of Mexican stock exchanges, the IPC Index decreased by 0.27 percent, to 48,576 points, while the FTSE PIVA index decreased by 0.12 percent, to 996.17 units.

In terms of economic indicators, the National Institute of Statistics and Geography (Inegi) published the Time Index of Economic Activity (IOAE), which predicts an annual contraction of 2.14 percent from the Global Index of Economic Activity (IGAE) for March. It should be remembered that the February IOAE showed a monthly contraction of 0.72 percent in economic activity.

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On the other hand, it published monthly manufacturing survey numbers corresponding to February 2021, which show an annual decline of 0.2 percent and a monthly contraction of 3.8 percent.