In the local stock market, on the other hand, the The leading S&P Merval index fell 0.6%, closing below 87,000 points, against a 2.3% loss the previous week.
On the winning side, the actions of Silver Commercial (+5.2%); South Gas Carrier (+3.5%); and Transportadora de Gas del Norte (+3.3%).
On the contrary, the losses were led by the papers of Ternium (-3%); Survival (-2.9%); and Cresud (-2.8%).
On Wall Street, major indices rose sharply as investors bought shares of growth and energy companies, following last week’s slump on concerns about a global economic slowdown.
The S&P 500 gained 90.05 points, or 2.45%, to 3,764.89, while the Nasdaq gained 269.78 points, or 2.50%, to 11,068.13. The Dow Jones Industrial Average rose 654.10 points, or 2.19%, to 30,542.88.
Mega-cap stocks Apple, Tesla and Microsoft rose strongly, giving the S&P 500 a boost.
Investors are trying to gauge how far stocks may fall as they weigh risks to the economy as the Federal Reserve tries to rein in inflation with aggressive measures.
The S&P 500 earlier this month fell more than 20% from its all-time high in January, confirming the common definition of a bear market.
“Do I think we’ve bottomed? No. I think we’re going to see more volatility, I think the bottoming process will probably take some time,” said Kristina Hooper, chief global markets strategist at Invesco. “But I think it’s a good sign to see investor interest.”
Investors are watching Fed Chairman Jerome Powell’s testimony before the Senate Banking Committee on Wednesday for clues about future interest rate hikes and his latest views on the economy.
Bonds and country risk
In the fixed income segment, on the other hand, dollar denominated bonds they finished the disparate wheel from all-time lows. The rises were led by bonares, which rebounded up to 2.4% (AL41D), while the global ones ended with the majority of decreases, among which the drop in GD41D (-2.5%) stood out. These bonuses accumulate a drop of 15% so far this month.
In the US, meanwhile, Globals rose an average of 25 cents, with Global 2038 standing out, recovering 40 cents.
Facing it, the Argentine country risk, prepared by JP Morgan bank, It fell 0.8% to 2,196 basis points, after hitting its intraday record of 2,214 units.
Already more stabilized, after the strong falls during the first fortnight of the month, CER-adjusted bonds in pesos ended with the majority of declines, that were led by the Discount (-2.9%), and the Boncer 2028 (-2.7%).
The exception of the day were the short Leceres, which trapped up to 0.5%.
With little volume, dollar-linked sovereign bonds traded mixed: the short tranche was the taker (+0.5%) and the long tranche was a slight seller (-0.1%).
Finally, Economy will launch this Wednesday an exchange of the Lede and Lecer for June, offering 2 different baskets for both papers (with a maturity of no more than 6 months).
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.
