The market will remain expectant before the news regarding Brexit. Any news in this regard will be carefully analyzed. The agreement must be reached as soon as possible since it must be approved at the European Summit on December 10 and 11 and its vote in the European Parliament on December 16.
The rest of the references will be relegated to the background, since the only relevant thing will probably be Homes Started in the US (2:30 p.m.) that will present a better tone.
The market, in the absence of news regarding Brexit and a vaccine, will prefer to wait for the very relevant events at the end of the week. From a macro point of view, in the US Leading Indicator and Second Hand Home Sales. In Europe, Consumer Confidence.
In addition, it is a decisive week for Brexit and there will be special focus on the meeting of European leaders on Thursday and G-20 on Saturday / Sunday.
With all this, today will foreseeably be a profit taking session. Which should be interpreted as opportunities. Once the (almost) American electoral outcome is known and the expectation of a vaccine, the risks move downwards and the stock markets continue to be the most attractive asset.
We defend that a sectoral rotation should not be carried out, but rather a progressive incorporation of the sectors most penalized by COVID-19.