The Ibex begins April with falls of 3% after collapsing 29% in the first quarter

Trump has declared that efforts by Americans to curb the spread of the coronavirus are a "matter of life and death" and has urged citizens to heed the Administration's guidelines. At the same time, he predicted that the country will soon see the "light at the end of the tunnel" in the pandemic that has killed 4,100 Americans and infected 190,000.

"I want all Americans to be prepared for the difficult days ahead," Trump said. "We are going to go through two very tough weeks," he stressed. Finally, the president has been forced to change his speech in the face of the rapid advance of Covid-19 in American territory.

To try to curb the virus, there has been a $ 2 trillion package approved last week in the US and the president is now advocating a $ 2 trillion infrastructure fund. "Since interest rates for the United States are at zero, now is the time to pass our long-awaited infrastructure bill for decades," he said.

Here in Spain, the next few weeks also look like they will continue to be tough. The infections by coronavirus have reached 102,136 positive cases, 7,719 more in the last 24 hours, according to the latest data provided by the Ministry of Health. In total, there are 9,053 deaths, 864 in one day, which is a new record. Although there are also 22,647 recovered, 3,388 in one day.

In the macro data chapter, after the positive references yesterday in China, today the trend is confirmed with the manufacturing PMI Caixin, which has been above 50 (at 50.1 compared to the forecast of 46 and the previous data of 40.3). More hopeful news from China, however, to some extent was already expected as the recovery has started there earlier.

For its part, the Bank of Japan survey of large manufacturers fell to -8, the lowest reading in seven years. In Europe, however, PMIs have been negative, also as expected. The March Eurozone manufacturing PMI has fallen to levels not seen in 92 months (44.5 from 44.8 and the forecast of 44.7).

In the US, the employment data from the consulting firm ADP has shown the destruction of 27,000 jobs in March, below the 150,000 layoffs anticipated by the consensus, although this data has not fully shown the impact of the confinement measures adopted in the country. . Also, data on the American manufacturing sector in March was not as negative as expected.

On the business front, the avalanche of dividend cuts and suspensions continues. The Bank of England has forced British banks to suspend theirs and they are falling sharply today.

In other markets, Brent oil is trading flat at $ 20.50, after hitting a low of the last 18 years on Monday. Black gold has closed the most bearish quarter in its history with a historic collapse of 66%. In addition, the euro depreciates 0.8% and changes to $ 1.0938 and the yield on the Spanish 10-year bond rebounds to 0.9%, while the Spanish risk premium rises to 118 points.

IBEX 35

"Despite the falls this Wednesday, the implications are nil. And they are because we have not drilled any support. But it is that even if we recovered the 7,000 points it would remain the same. And it is that the very short-term control areas are in the 6,500 points as the most immediate support and below that we have 6,148 and 5,814 points ", argues José María Rodríguez, analyst at Bolsamanía.

"While at the top, on the resistance side, we have 7,058, the bearish gap of 7,437 and 8,000 points (50% adjustment / decline). Right now we are in the nobody zone, but within a rebound" , concludes this expert.