The technology market closed last Friday with a major drop. Already several analysts had warned of the continuous rise in Nasdaq in particular and of an imminent correction at any moment. Technological stocks like NVDA, AMZN and AAPL among others fell between 3.5% and 5%, during that last day. The technology sector in particular fell back by an 2,7%. The beginning of the week suggests a continuation in the fall of the technology, so we recommend adjusting its closing prices and not holding positions that fall below their Stop Loss. We still do not have the clarity if it comes a prolonged correction or just a pause before continuing the technological rally.
On the other hand, the Dow Jones and S & P was less affected, showing some stability, particularly given the increases in the energy sector 1,45% and financial 0.83%, helping to counter the fall of the technology sector. We will be attentive to the Fed's comments as to whether or not to raise interest rates on Wednesday. That event will undoubtedly be key to defining the direction of the market for the coming weeks. The latest data on unemployment suggest that the rise in interest rates could be delayed until September.
Crude futures start the week up, 46.7 $. We will be alert to any news that may influence and change the trend in energy.
The metal sector managed to improve compared to the previous week. We are looking forward to a further recovery in the prices of these shares in the coming weeks.