The auto sector supports falling stock markets. The Future on the Nasdaq

2021-03-18T11:43:11.891Z

European stock markets predominantly positive in the middle of the session, pending the EMA verdict on the Astrazeneca vaccine, expected in the afternoon. The Milan Ftse Mib index rose by 0.39%. London unchanged, Paris + 0.2%. Also today in evidence Frankfurt, + 1.2%, thanks to the auto sector. Today best title in Frankfurt Daimler, + 3.7%, BMW (+ 2.7%) and Volkswagen (+ 1.2%) also rise. At the European level, the Stoxx 600 Automobiles & Parts index rises this week by more than 7 percent, driven by announcements from German manufacturers, especially on the electrification front. Even in Piazza Affari today the auto sector is in evidence. Pirelli (+ 2.4%) is the best stock, followed by Stellantis (+ 1.7%). Among the sectors, purchases mainly for banks (+ 1.17% for the Ftse All Share Banks index). Greater reductions for Amplifon (-1.34%) and Diasorin (-2%). Eni rises by 1.28%, the day after the acquittal of the Milan Court for the top and former top management in the Eni-Nigeria trial. Futures on Wall Street are contrasting: the Dow Jones futures are not very positive, those on the S&P 500 and above all Nasdaq are negative (-1.13%). The decline in the Nasdaq futures is correlated, as occurred in the previous weeks, to the increase in the yield of the US 10-year Treasury, which reached 1.73%. Yesterday at 7 pm clear words arrived from the governor of the Fed, Jerome Powell. He said the US central bank will not raise interest rates until 2024. He then predicted inflation would rise to 2.4% this year, then return to 2%. It will therefore be admitted, as was anticipated months ago at the Jackson Hole meeting, a shift of more than 2% of inflation; a level that in recent years had been considered a limit not to be exceeded. ECB President Christine Lagarde also spoke this morning in a hearing at the Economic Affairs Committee of the European Parliament. "Real GDP will likely contract in the first quarter of 2021," he said. The economic situation is "better" than it was a year ago and "we can expect it to improve in 2021". In the short term, however, the economic outlook for the euro area "remains uncertain due to the dynamics of the pandemic and the speed of vaccination campaigns". He then said that it is essential to continue to support households and businesses even if the measures should remain temporary and targeted. He also spoke of inflation: "With inflation forecast at 1.5% in 2021, 1.2% in 2002, and 1.4% in 2023, the projections remain unchanged compared to those of December 2020. And we are beyond below our inflation target, ”Lagarde said.