Wyllian Capucci
27/07/2021
Node in Infra
Senate negotiators passed another deadline on Monday to draft abipartisan infrastructure package, even with key figures expressing confidence inthat a deal will eventually be closed. The conversations continued until Monday night.fair, with financing of transit and water projects among the main points ofconflict. Senate Majority Leader Chuck Schumer said he would keep the Senate insession over the weekend, if necessary, as more than 140 executives have askedto Congressional leaders to act quickly to pass a bill.Any legislation will face challenges in both chambers, as it is unclear whetherany Republicans beyond the 10 involved in the negotiations will vote in favour
Defeat of China
The debacle in Chinese stocks continued for a second day as theBeijing’s regulatory crackdown spilled across bond and foreign exchange markets. Attechnology and education stocks tumbled, with Tencent Holdings Ltd. down more than 10%and Meituan falling as much as 17%, its biggest drop ever. The sales wave wastriggered when authorities published new regulations over the weekendrelated to the education technology sector. Traders said the rumors ofthat US funds were discharging Chinese assets exacerbated themeasure. Meanwhile, the scenario was more optimistic for technology in the United States,with Tesla Inc. shares rising in early trading after the electric automakerreported better-than-expected earnings
Reality check
The US vaccination campaign is stalled and will take eight or nine months toreach 75% coverage. All over the world, countries are being impacted by newVirus strains – creating the danger that this year’s “V-shaped” recovery becomesinvert and turn a “W”. In Europe, there was good news with a sustained drop innew cases in the UK, although there is no consensus on what is behind this,or if the current wave of infections has peaked. Meanwhile, the European Union has reached itstarget to protect 70% of adults with at least one vaccination by July. Singaporesaid he intends to start allowing unquarantined travel in September, even thoughwhile struggling to control an outbreak of the delta variant
Market crash
Global equities are struggling as defeats in China and Hong Kong spur aclimate of caution. Overnight, the MSCI Asia Pacific index fell 1.1%, while the indexJapan’s Topix rose 0.6%. In Europe, the Stoxx 600 Index fell 0.7% at 6:28 amBrasilia. The S&P 500 futures pointed red at the open, the yield of the10-year treasury was at 1.24% and the yen rose with the dollar. Bitcoin has been tradedclose to $37,000 after rising briefly to $40,000 overnight.
Coming
As the Federal Reserve begins its two-day meeting, we get preliminary dataDurable Goods Orders for June at 9:30 am and the FHFA Home Price Index at 10:00 am It’s a big day for tech gains, with Apple Inc., Microsoft Corp. andAlphabet Inc., all reporting after the bell
Source:https://wintrademarkets.com/
