The Ibex launches July cautious and flat after more good macro data in China

The month of July begins, a new quarter and a new semester in the markets, and it does so with caution (Ibex: -0.09%. 7,225 points). The first part of the year has been one of the most complicated that will be remembered in the history of the stock markets and probably in the history of humanity. Now it's time to face a second part for which many anticipate recovery, but which others prefer to face with Caution, because the improvement, in your opinion, will be neither so fast nor so evident.

For now, that improvement is reflected this Wednesday in China's manufacturing Caixin PMI in June, which has risen above expectations and above 50. The benchmark has remained at 51.2, exceeding analyst expectations, which they put it at 50.5. Asian stocks have experienced a session of hikes for the most part, especially the Chinese ones.

PMI readings above the 50 level signify a monthly expansion, while those below it represent a contraction. The official manufacturing PMI released on Tuesday also showed that factory activity in China expanded in June. Today the manufacturing PMIs in Europe and the US will be known.

News related to the virus also attract investors' attention. This Tuesday, the White House adviser on the disease, Dr. Anthony Fauci, warned that coronavirus infections in the US could increase to 100,000 a day, from the current level of around 40,000, if behaviors do not change. In addition, Fauci also warned that they are monitoring a new strain of flu carried by pigs in China that has the potential to become a pandemic, according to scientists.

In the United States, New York is taking more steps to control travelers heading to the state from troubled regions. More than 10.45 million cases of coronavirus have already occurred worldwide, and the virus has caused at least 510,632 deaths, according to Johns Hopkins University. President Donald Trump said on Twitter that he is "increasingly angry with China" over the virus.

Today's key event is the publication of the minutes of the June meeting of the Federal Reserve (Fed). "Of particular interest are the discussions by Fed members about controlling the bond yield curve," they point out from Danske Bank. In addition, the employment data of the ADP consultancy will be published (the employment report will be released on Thursday). In Germany, There is focus on the unemployment rate.