MSCI’s global stock index rose just 0.2% and the pan-European STOXX 600 fell 0.5%. In Asia, meanwhile, the Japanese Nikkei fell 1%, moving away from its highest in three decades.
While Wall Street remains without activity due to the Emancipation Day holiday and the Argentine stock market does not operate due to the bridge holiday set to commemorate Flag Day, in the markets of the rest of the world, shares are trading mostly bearish this Monday, after having touched maximum levels in 14 months last week.
In this context, the world stock index of MSCI rises just 0.2% and the pan-European STOXX 600 subtracts 0.5%. In Asia, meanwhile, Japan’s Nikkei falls 1%moving away from highs of three decades.
Chinese stocks fell 0.9% and Hong Kong’s Hang Seng plunged 1.2% as investor hopes that Beijing would take strong economic stimulus measures faded.
What’s coming for the week
After the stock market applauded the Fed’s decision not to raise interest rates in June, ahead of the week that begins this Monday, markets continue to be dominated by monetary policy bets and investors await the statements of the president of the Federal Reserve of the United States (FED), Jerome Powell, before Congress from that country, which will arrive next Wednesday and Thursday.
The hopes of for the Fed to end its campaign of rate hikes The most aggressive in decades is driving global stock indices, dominated by US mega-cap tech stocks, which tend to outperform when risk appetite is aided by looser monetary policy.
Billions of dollars have flowed into big tech in recent weeks, with analysts citing the productivity-enhancing potential of Artificial Intelligence for the rebound. “The obvious AI narrative has dominated this rally in tech stocks,” said Hawksmoor’s Dan Cartridge.
But he stressed that this also has a lot to do with the rate expectations and warned that if the Fed maintains its hawkish stance, “we will quickly see valuation compression again.”
In raw materials, the prices of raw they go down slightly and the gold It is trading stable at $1,954.39 an ounce.
Source: Ambito
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