The main stock market in the world, the New York Stock Exchange, as well as the most important in Europe, reported a day of gains, after a week in which losses were the order of the day. wall street opened this Tuesday with a rebound of 1.51 percent, an increase that occurs after the stock market closed last week with losses and fear among investors about a possible economic slowdown in the United States.
(Read: Sharp drop in the Stock Market, Ecopetrol drops more than 13%).
For his part, the dow jones gained 452.42 points, while the selective S&P 500 recovered 2.02 percent. The composite index of the Nasdaq market, where the main technology companies are listed, rose 2.39 percent.
Investor appetite for riskier assets on Tuesday comes after a tumultuous week in the markets in which the S&P 500 suffered its worst drop since the covid-19 pandemic hit the markets in March 2020.
The main European stock markets have maintained this Tuesday the increases with which they began the week, except for the Spanish equity market, in another session without relevant data on the economic situation.
Paris, that yesterday was the one that rose the least after the electoral change in France, it has advanced 0.75%, London 0.42%; Milan 0.39%; Frankfurt 0.2%; and the index that represents the main companies in Europe, the Euro Stoxx 50, 0.7%. The Spanish Stock Exchangewhose selective Ibex-35 fell by 0.61%, was the only one that fell, weighed down by the decline in the electricity sector.
The European squares have started the day with rises that came to exceed 1% in Paris, Frankfurt and Milan and that since before noon they have begun to decline, although the opening in green of New York (it rose almost 2% at the European close) has made it possible to contain the decline.
As explained in a market commentary by the manager IG “now it is likely that we will see a technical rebound” due to the wave of sales in recent weeks in the European stock markets, as investors try to get shares of companies with good valuations at a lower price.
This week is also characterized by the absence of data on the macroeconomic situation and other references for the market. The highlight will be Federal Reserve (Fed) Chairman Jerome Powell’s remarks to the US Senate and Congress and the European and US PMIs due out on Thursday.
The euro has risen in the first part of the morning up to 1.06 dollars, but it has lost strength after knowing the current account deficit of the eurozone for April and at the close of the stock markets it rose 0.2% and traded at 1.053 dollars. At the same time, Brent oil is at $114 a barrel, 0.3% more than yesterday, after exceeding $124 last week.
(Keep reading: The dollar registered a rise of more than 100 pesos and remains above $4,000).
As for the return on debt in the eurozone, falls in Italy and Greece, more important in the latter, which has fallen from 4%, and practically without changes in Spain (0.6 basis points on the rise). The interest of the German ten-year bond has advanced 2.2 basic points, up to 1.764%, which has reduced the risk premiums of the Mediterranean countries.
EFE
