Looking for a stabilization...

We cannot fail to take positively the agreement reached this week between the United States and China. Although it is still incomplete, it is a first step towards a potential stabilization. The clash between the two giants of the world economy has resulted in Trade, but in reality it involves a total and global picture.

It is a confrontation between powers that will mark the future and we will also see it evolve in different hotspots, where in addition to the two global realities we will see assertive regional actors move.

It is the background of the overall positive scenario that we are facing at the beginning of 2020 and we could project on an annual future (barring surprises). During the week, for example, the United States posted good macroeconomic data (boom in construction and excellent results from the Philadelphia Fed index). And to this we must add the promising indications that come from the company results (the best forecasts released by Morgan Stanley, which partially compensated for the partial disappointments of Goldman Sachs and Bank of America).

In the USA, the financial sector shines particularly. Dow Jones aims straight towards the 30000, S&P passes the 3300: Wall Street closed 2019 with 20% gains thanks also to the fact that the American hi-tech giants are still very strong (although they are the ones most exposed to the comparison with the China, which is based on the run-up to the technological leadership of the future).

All elements that operators must also manage with a view to sustainability, because they are secure injections of confidence, on which, however, it is necessary to move with extreme responsibility. The general moment continues to be delicate also due to a series of geopolitical sensitivities that affect particular contexts in various parts of the world (think of the Persian Gulf or the Mediterranean). Also for this reason, every kind of step towards stabilization, such as Phase 1 of the Sino-American understanding, is positive.