The main European stock exchanges, including Piazza Affari, should open this last session of the week above parity, reassured by good indications from the United States and by the prospect that the Biden administration will continue with the fiscal stimulus.
Yesterday, weekly claims for unemployment benefits fell more-than-expected in the United States, with companies continuing to hire to cope with the surge in demand aided by the recovery in the U.S. economy, which confirmed in the first quarter of the year. growth of 6.4% on an annualized basis, one of its best performances in the last 20 years.
Today, US President Joe Biden is expected to present his draft budget for the fiscal year that begins next October 1, for the first time since his arrival at the White House in January. A project that, according to the New York Times, involves 6,000 billion dollars (4,925 billion euros) of expenditure.
The session will then be animated by various indications. Again with regard to the United States, the trade balance, household incomes and expenses and the core PCE are on the way, an indicator of the price trend kept under observation by the Federal Reserve to define its monetary policy. As for the Eurozone, various confidence indices will be published, while Draghi and Merkel will open the proceedings of the Global Solution Summit.
Among the stocks of Piazza Affari, Cattolica should be monitored, which this morning released the quarterly report, which closed with a better operating result than ever and a tripled group net profit. On the agenda the meetings of Poste and ENAV. Finally, on the issues front, today the Treasury will offer BTP and CCTEU up to 8.5 billion at auction.