In the local stock market, the S&P Merval index of Bolsas y Mercados Argentinos (BYMA) changed its course intraday to a very slight positive of 0.1%, at 91,452.04 points, after dragging a fall of 2.5% in the four previous sessions.
The main gains were led by shares of Loma Negra (+4.5%), Cresud (+2.4%); and Transportadora de Gas del Norte (+2.4%); while the most important drops were scored by YPF (-1.6%), Aluar (-1.4%) and Ternium (-1.3%).
Simultaneously, Wall Street closed this Thursday with a strong rise led by Tesla, Nvidia and other growth stocksin a busy session awaiting a report on employment to be published on Friday.
The S&P 500 gained 1.9% to 4,176.93, while the Nasdaq gained 2.7% to 12,316.42. The Dow Jones Industrial Average rose 1.3% to 33,236.09.
Tesla, Nvidia and Meta Platforms rose more than 4%, boosting the S&P 500 and the Nasdaq. Amazon climbed 3.1% and Apple added 1.7%. Almost all 11 sector indices of the S&P 500 closed higher, led by consumer discretionary, up 3.03%, and materials, up 2.69%.
US stocks bounced back from earlier in the day after Federal Reserve Vice Chairwoman Lael Brainardsaid supports at least a couple more than half-percentage-point hikes in interest rates, and sees no reason to pause in September if price pressures don’t cool.
The US stock market has staged a modest recovery in recent sessions, with investors debating whether the worst of the slump that has dominated Wall Street in 2022 may be over.
The S&P 500 is down 13% from its all-time high in early January.
Bonds and country risk
In the fixed income segment, Dollar bonds closed with the majority of increases, led by global bonds, which climbed up to 1.8%, cutting a mini-negative streak.
At the same time, the Argentine country risk fell 0.8% to break 1,900 basic points, and settle at 1,896 points, the lowest level in three weeks.
In the weight segment, the note of the day was given by the CER titles, which sank to 4.3%.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
