Despite reports of a possible peace agreement in the Middle East, the US stock market has gained around $10 trillion in capitalization value since its lows of March 30.
New highs were reached on Wall Street this Wednesday. The S&P 500 alone has gained more than 16 percent, equivalent to $9.5 trillion in market capitalization, from the low more than a month ago.
In a session favored by the greater appetite for risk due to expectations of an agreement between the United States and Iran to end the conflict and gradually reopen the Strait of Hormuz, the S&P 500 gained 1.46 percent, up to 7,365.03 points; The Nasdaq rose 2.03 percent, to 25,838.94 points, and the Dow Jones advanced 1.24 percent, to 49,910.59 points, at record levels.
The news reduced pressures on energy prices and alleviated inflation concerns, while investors also evaluated solid corporate reports, especially in the technology sector, reinforcing the demand narrative for semiconductors for artificial intelligence (AI), Actinver explained.
The Price and Quotation Index (IPC) of the Mexican Stock Exchange ended the day with an increase of 1.84 percent, at 69,855.23 points. Of the 35 stations, 23 ended the day in positive territory. Peñoles Industries (9.64 percent) stood out on the rise; Grupo México (5.02) and Cemex (4.51); Meanwhile, GAP, América Móvil and OMA fell 1.69, 1.14 and 0.85 percent, respectively.
Weight shows muscle
The dollar weakened in the world, which took advantage of the Mexican peso by registering a daily appreciation of 0.79 percent, to 17.2406 units per dollar spotits best level since the war in Iran began.
According to the Bank of Mexico, the exchange rate operated between a maximum of 17.2700 units and a minimum of 17.2280.
The appreciation of the peso occurred alongside a weakening of the dollar of 0.43 percent, to 97.89 units, according to the DXY index – which measures its behavior against a basket of six currencies –, its largest daily decline since April 30.
Meanwhile, it is expected that this Thursday the Bank of Mexico will cut the rate to 6.5 percent and put an end to the cuts for now, but first the inflation data for April will be released.