Stock markets down in the last session of the week. We could summarize it by writing that Piazza Affari fails the test of 6 and Wall Street fears the Biden test. The Milan stock exchange closed down after 5 consecutive sessions. Wall Street opens down by asking which presidency Biden will be. Let’s analyze the highlights of the day.
Wall Street wonders what the Biden presidency will look like
It was a troubled session today on the European stock exchanges. Tormented and uncertain. After the strong rises of the past few days, the first few profit-taking took place. But also the first questions from operators about what will happen to the markets next week.
US investors, who see Biden’s victory looming, are the main questions. But they also see Covid infections rise to record levels. And the question is what the new president will do to stem the pandemic.
He will probably act more resolutely than Trump and therefore blocks are expected to social, productive, and service activities, which will slow down the economic recovery.
These are questions that do not arise in Europe, whose stock markets are once again leading the way of the US. Today came yet another demonstration. When Wall Street opened lower, the Old Continent’s stock exchanges turned lower.
Piazza Affari fails the 6 test and Wall Street fears the Biden test
Piazza Affari had a fluctuating trend. The major index of the list, the Ftse Mib (INDEX:FTSEMIB), at the start it hit with the resistance of 19,800 points. Level that the Analysts of ProiezionidiBorsa had highlighted as a possible obstacle in the comment that anticipates the opening of the Stock Exchange.
At that point, the profit-taking took place and the prices fell to almost a percentage point. In the early afternoon they managed to climb back up to 19,800 points. This time around, both the resistance and the negative opening on Wall Street have brought prices down.
At the end of the session, the Piazza Affari index lost 0.25%, stopping at 19,681 points. Unfortunately, failing the test of 6, or sixth consecutive session on the rise and sixth Friday in positive.
Deepening
To know the multidays analysis and the point on international markets of the ProiezionidiBorsa Study Office, click who.
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