The Ibex rebounds timidly after the hit and despite the uncertainty due to the virus

The Ibex rebounds this Tuesday (it started with rises of 0.7% and now rises 0.3%) after the bump of the last session as a result of negative news about banks, about the vaccine and about the evolution of the pandemic . Wall Street registered a significant decline this Monday (Dow Jones: -1.8%; S&P: -1.2%; Nasdaq: -0.13%) and in Asia the red numbers have persisted this morning. Although the logical thing is an upward reaction after the sharp falls, there is great uncertainty about the pandemic, and this prevents a consistent movement.

There is speculation about all kinds of measures on the part of the countries to stop the outbreaks of the virus, from limitations on travel to restrictions on public life that could be announced in the coming days, as in fact has already happened in some areas of the Madrid's community. Britain is about to reimpose some limitations, including forcing pubs and restaurants to close at 10 p.m., as the country faces a new wave of infections.

"The resurgence of the virus across Europe has meant that governments, after trying to start a recovery during the summer, must now step on the brakes and begin to reimpose restrictions on social interactions, as well as other measures to try to reduce the rate of infection. An increase in hospital admissions is expected as we are heading into the fall period and therefore there will be an increase in the mortality rate, "explains Michael Hewson, director of analytics at CMC Markets in London.

"The biggest problem for governments now is that, while there was widespread acceptance of a large-scale shutdown in early March, when hospital admissions were increasing, the bias now is not so great among certain sectors of the population. ", adds this expert.

Analysts warn that another shutdown, or tighter restrictions, could result in the loss of thousands of jobs. "This is the choice that governments are now facing," says Hewson.

In other matters, Tesla stock fell almost 6% in the 'after hours' after the CEO, Elon Musk, said in a tweet that the improvements that will be announced in the' Battery Days' that the electric car maker celebrates on Tuesday will not reach "serious high-volume production" until 2022.

As for other appointments of the day, the president of the Federal Reserve (Fed), Jerome Powell, and the Secretary of the Treasury, Steven Mnuchin, are to appear before the Financial Commission of the House of Representatives. The text of the testimony was released yesterday and did not contain any new signals compared to what he said at the press conference after last week's monetary policy meeting. In addition, the Governor of the Bank of England will speak today. "We will be attentive to any comments on whether the BoE is going to cut rates to negative territory," they say from Danske Bank.

Finally, regarding the technical aspect of the Ibex, after sweeping the 6,900 points, now everything happens to respect the area of ​​6,480-6,500 points if you do not want to go headlong for the annual minimum, at 5,814 points.