It is worth remembering that the domestic plaza remains closed for the Easter holidays and will resume operations next Monday.
Meanwhile, the main indices of the New York Stock Exchange did not show a clear trend this Thursday, the last business day of the week, since there will be no movement on Friday either.
After disparate business results from a number of banks, the Dow Jones Industrials advanced 0.4% to settle at 34,684.18 points. On the contrary, the selective index S&P 500 operated with a decrease of 0.4% and the technological Nasdaq registered a drop of 1.1%.
Shares of Twitter erased their initial rise after the takeover bid by billionaire Tesla founder Elon Musk.
On Wednesday, Argentine ADRs climbed as much as 9.5%, but the S&P Merval contracted 0.8%, with a market digesting the worrying inflation data released by INDEC.
According to the official body of public statistics, prices soared 6.7% in March, the highest monthly figure in 20 years.
The jump was linked both to global factors, tied to the escalation in the price of commodities due to the war in Ukraine that had an impact on food and energy, as well as to local issues linked to the strong and generalized inertia of the inflationary dynamics, and to the adjustment of relative prices that had been delayed, such as tariffs and the official exchange rate.
At the global level, the market’s attention is focused on the evolution of the war and the greater monetary hardness of the United States Federal Reserve. Investors expect a faster rate hike and balance sheet cut by the Fed, with the aim of containing inflation.
In Argentina, the Central Bank (BCRA) raised interest rates the day before for the third time in the year. Peso-denominated instruments now yield close to 59%, above current year-on-year inflation but still behind expected inflation for 2022, which is already above 60%.
Source: Ambito
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