September 04, 2020

Global markets

Long weekend eve, with the Independence holidays in Brazil and Labor Day in the USA, both on Monday, brings the highlight of the report on the North American labor market in August.

The so-called payroll gains relevance because it will be the first to be released after the end of the emergency aid of US $ 600 per week to the unemployed. The benefit expired on July 31 and was not renewed amid the impasse between Republicans and Democrats in Congress.

 For Trump, the stock market crash was a "profit-taking" because "someone said something stupid". The American stock markets melted yesterday, the result of a strong profit-making movement in the technology sector, which had been responsible for driving the market to break consecutive records in recent months and to record one of the best events in history.

Wall Street scared the world yesterday, amid a strong sell-off wave in stocks in the technology sector, which raised doubts about the bursting of a new “dot com” bubble. The Nasdaq index fell by almost 5%, closing below 12,000 points, while the S&P 500 had the worst session since June, yielding 3.5%.

This morning, however, New York stock exchange futures are up, erasing the losses recorded last night and signaling that the sudden drop in techs does not mean that a broader correction is underway.

In Europe, banks help raise stock exchanges. Spaniards Caixabank and Bankia have announced that they are negotiating a merger to create Spain's largest bank.

In Asia, the market closed down after the low view of technology companies.In China, Shanghai SE lost 0.87%, while Hong Kong's Hang Seng index fell 1.25%. Japan's Nikkei 225 index fell 1.11% and South Korea's Kospi fell 1.15%.

 International WTI oil futures (NYMEX: CL \ V20) are trading at $ 41.71, up 1.0%. Brent (NYMEX: BZ \ V20) also operates at an increase of + 0.8%, trading at US $ 44.37.