Wall Street wears red again for the third consecutive session. Investors continue to withdraw positions in risk assets in the face of the constant threat of a armed conflict between Ukraine and Russia and the difficulty in predicting the next movements of the US Federal Reserve (Fed).
The members of the institution most in favor of an aggressive withdrawal of monetary stimuli have begun to point out that the first interest rate hike, scheduled for March, should be double what the central bank is used to. One of them is St. Louis Fed President James Bullard, who advocates a half-point increase in the reference rate instead of the usual quarter point.
Despite the fact that sales prevail, the decline is much lower than that suffered by the European stock markets at the start of the week. The dow jones it loses 0.7% until it breaks 34,500 points. 0.4% leave the S&P 500, which clings to 4,400 points. The nasdaq manages to capitalize on the entry of opportunistic positions with advances of 0.2% in the 13,800 points.
Without prominent macroeconomic references on the agenda, the market’s attention is directed more strongly towards two key points that in recent sessions are a source of volatility. On the one hand, towards the Fed where each of its members continues to send messages about what they think should be agreed upon at the March meeting.
On the other, the growing tension in Ukraine. Although the country is far from the United States, the fundamental role that Washington has chosen to play in this crisis and the implications that this conflict could have for the relationship with Russia have become decisive.
super bowl and cannabis
In the corporate chapter, Super Bowl commercials of last morning have an effect on the price of its protagonists this Monday. Such is the case of wall boxthe Spanish manufacturer of charging systems for electric vehicles, which rose 2.8% against the current.
Shares rise more than 2% coinbase, the first publicly traded cryptocurrency platform. His shares are close to 200 dollars after having issued an advertisement consisting only of a QR code to open an account in his system, which at times they crashed their servers.
In the opposite direction, the actions of Tilray more than 3.5% are left behind even though Colorado has posted record numbers of sale of legal cannabis. The sale of up to 2,230 million dollars throughout 2021 is not enough to boost the price of the hemp producer.