Weekly Extract 01/06/2021

Weekly summary from May 24 to 29

• The U.S. equity market closed last week with all three major indices in positive territory. The S&P 500 closed very close to new highs. The equity market has managed to close the fourth consecutive month in positive territory, indicating that for now for investors the prospects for sustained growth outweigh concerns about inflation.
• In Europe, the previous week closed positively for the major equity indices. Improved COVID-19 trends helped propel several regional benchmark indices to record highs last week. At the end of the monday 31European indices have managed to close another month in positive territory. The Eurostoxx 50 and the ibex 35 closed in positive territory for the fourth consecutive month.

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• Among the highlights, President Joe Biden has issued his first full budget proposal, in which he has proposed spending more than $6 trillion over the next fiscal year. Among the main highlights of the proposal are increased spending on infrastructure, plans to combat climate change and fight social problems. It is expected that part of the budget will be financed with tax increases, both on corporate companies and individuals. The bill does not yet have congressional approval and could take months to be approved.
• Inflation remains a key issue for economists and investors, with many viewing rising prices as temporary and others viewing it as a real long-term risk.

AMERICA		Δ %5 Days	Δ % YTD
DOW JONES	34.529,45	0,94%	12,82%
S&P500	4.204,11	1,16%	11,93%
NASDAQ	13.748,74	2,06%	6,68%

EUROPE		Δ %5 Days	Δ % YTD
Euro Stoxx 50	4.070,56	1,11%	14,24%
FTSE 100	7.022,61	0,06%	8,70%
CAC 40	6.484,11	1,53%	16,65%
DAX	15.519,98	0,97%	12,78%
IBEX 35	9.224,60	0,22%	13,90%
SMI	11.426,15	2,46%	6,41%

ASIA		Δ %5 Days	Δ % YTD
NIKKEI 225	29.149,41	2,94%	5,16%
HSI	29.124,41	2,34%	7,05%
CSI 300	5.321,09	3,64%	2,31%

BONUS		Δ %5 Days	Δ % YTD
US TREASURY 10Y	1,59	-1,68%	144,30%
US Generic Govt 2 Yr	0,14	-8,25%	-12,23%
GERMANY 10 YR	- 0,18	-40,49%	61,75%
UK 10 Yr	0,80	-4,30%	278,57%

COMMODITIES		Δ %5 Days	Δ % YTD
WTI	66,32	4,31%	38,85%
BRENT	69,63	4,80%	34,67%
NATURAL GAS	2,99	2,75%	20,01%
CORN	656,75	-0,42%	35,69%
WHEAT	663,50	-1,59%	3,59%
GOLD $/Oz	1.902,50	1,37%	0,52%
SILVER $/Oz	28,01	1,97%	6,28%
COPPER	467,75	4,04%	32,72%
PLATINUM	1.184,44	1,04%	10,86%

COINS		Δ %5 Days	Δ % YTD
EURUSD	1,220	-0,14%	-0,14%
AUDUSD	0,774	-0,18%	0,57%
CADUSD	0,827	-0,39%	-5,05%
CHFUSD	1,111	-0,37%	1,73%
GBPUSD	1,418	0,13%	3,70%
CNYUSD	0,157	0,78%	-2,41%
JPYUSD	0,009	-0,78%	6,11%
USDBRL	5,203	-2,16%	-0,09%
USDMXN	19,899	0,16%	0,08%
XBTUSD	36918,17	-5,40%	27,33%

To be taken into account

• The United States has seen its lowest levels of coronavirus infection in a year. However, some experts warn that the world needs the cooperation of the Chinese government to trace the origins of COVID-19 in order to prevent future pandemic threats.
• With a short week due to yesterday's holiday, investors' attention will be focused on Friday's employment data. After the disappointing April numbers (266,000 new jobs vs. 1 million expected), investors will be looking to see if April's weakening is a sign of a slower than expected recovery in the labor market or if it was simply an exception to be ignored. According to analysts, at least 655,000 new jobs are expected to be created in May.
• The attention of many investors continues to be focused on the statements of the different members of the Fed. It is expected that the central bank may take some action to control inflation or that it may decide to modify at some point the massive bond repurchase program, which could increase price pressure in many sectors.
• In Europe, the focus will be on inflation data. Data indicate that inflation is approaching the ECB's target (2%), but for now most officials maintain that this is a temporary increase and that no further action is needed.
• The European Union plans to lift all quarantine requirements from July using a digital passport indicating vaccination status, a clear sign that the continent is getting back on track.

other important points

• This week a new OPEC+ meeting will be held, in which it is expected that in view of the hopes of a significant recovery in demand, the gradual reduction of oil supply will be maintained. According to the ministers of the coalition, the return of Iran to the international markets would not affect the balance being achieved with world supply and demand.
• In the early hours of today's trading, pending the OPEC+ meeting, oil prices are at two-year highs.
• Boosted by the impressive rollout of the COVID-19 vaccine to stem the damage caused by the pandemic, sterling has soared to three-year high prices. The latest economic data indicates that the UK could be on track for a healthy and faster-than-expected economic recovery.
• Semiconductor company Advanced Micro Devices Inc. has confirmed that two of Tesla's company vehicles (Model S and Model X) will use its processors and graphics chips.
• Apple has announced that it is delaying the launch of its long-awaited podcast service, due to several problems with Apple Podcasts Connect, the portal for submitting shows and tracking their performance.

Corporate Calendar

Before market opening

Monday 31	Tuesday 01	Wednesday 02	Thursday 03	Friday 04
-	Canopy Growth	Advanced Auto Parts	Express	-
-	Scotiabank	Lands End	Secure Workd	-
-	Quotient	Donaldson	Conn's	-
-	Graham	PXS	Bull	-

After market close

Monday 31	Tuesday 01	Wednesday 02	Thursday 03	Friday 04
-	Zoom	Splunk	Docusign	-
-	Hewlett Packard	C3.ai	Broadcom	-
-	Orion	Cloudera	Chargepoint	-
-	Digital Turbine	PVH	Lulemon	-

CEconomic Calendar

Tuesday 01
ALE: Unemployment change in Germany
EURO: CPI in the euro zone
USA: ISM Manufacturing PMI (May)
Wednesday 02
AUD: GDP data
USA: FOMC member statements
Thursday 03
GBP: Composite and Services PMI Data
USA: ADP non-farm employment change
USA: New claims for unemployment benefits
USA: ISM non-manufacturing PMI (May)
Friday 04
GBP: Construction PMI
USA: Nonfarm payrolls
USA: Unemployment rate