The Mexican Stock Exchange (BMV) fell this Monday in line with the weak performance of the markets abroad due to the caution of investors who are awaiting a speech by the head of the Federal Reserve, Jerome Powelllater in the day.
The leading S&P/BMV IPC index, which groups together stocks most negotiated of the domestic market, fell 0.39 percent to 52 thousand 571.21 points, dragged mainly by firms from the mining sector.
Industry titles Peñoles They led the decline, with 4.16 percent less to 260.47 pesos, followed by those of Grupo México, which fell 1.57 percent to 109.38 pesos.
Wall Street operates mixed at the beginning of the week full of data in which Powell will speak
The main indices of Wall Street Today they were trading mixed since the investors They paused after the rise of the previous week and were cautious at the beginning of a week full of economic reports and comments from authorities of the Federal Reserveincluding the president Jerome Powell.
The Average Dow Jones Industrial fell 226.69 points, or 0.54 percent, to 42,086.31 units; the S&P 500 index lost 4.52 points, or 0.08 percent, to 5,733.65 units; and the Nasdaq Composite gained 44.41 points, or 0.25 percent, to 18,164 units.
Eight of the 11 S&P 500 sectors fell. Materials was placed at the bottom with a 0.8 percent decreaseafter recording its best week since early December on Friday.
The Dow closed at all-time highs on Friday and the S&P hovered around its own milestone. They both chain their qfifth month consecutive upwards, defying a historical trend in which September has been a weak month for equities on average.
The three main indices are preparing for a quarterly rise, after the Fed began its flexibility policy almost two weeks ago, promoting the earnings in Wall Street.
The latest data has supported the tendency towards moderation of price pressures and the overall resilience of the economy, giving the Fed enough room to support the labor market and avoid a recession by further reducing borrowing costs. Markets await Powell’s appearance later in the day.
He bid report August employment figures and the key September payrolls figure, along with final business activity estimates are on the radar this week that could offer clues about the outlook for the economy and job cuts. interest rates.
“If we start to see a bigger-than-expected slowdown in the labor market, forecasts for the Fed’s November meeting could show a higher likelihood of a 50 basis point cut,” said Sam Stovall of CFRA Research.
Stock indices in real time
S&P 500
​Dow Jones
MATP
