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The Ibex falls back after the quarantine in the US rating with the Nasdaq skyrocketing

Date: March 1, 2024 Time: 07:21:47

Mixed sign in the markets. The Ibex 35 has started the session with a fall of 0.25%, which has led the index to stand at 9,140 points, following in the wake of the rest of the European stock markets. The French Cac falls 0.3%, the German Dax 0.1% and the British Ftse 100 0.4%. Investors are awaiting negotiations on the debt ceiling in the United States and the publication of the first quarter GDP in that country, but they are still digesting the threat from the Fitch agency about the triple A rating of US debt due to the risk from ‘default’.

“This first ‘wake-up call’ by a credit agency to the US, which may not be the last, should reflect on US politicians of both parties. However, investors are getting increasingly nervous,” says Juan J. Fernández-Figares, management director at the Link Gestión firm. “Time is running out for US politicians with ‘X-Day’ on June 1, drawing ever closer and with less and less time for a possible agreement to increase the debt limit to be debated and voted on. in Congress. That is what worries us the most; that a miscalculation could precipitate the US default with all that this entails. Today we expect a “tense” session on the European stock markets,” adds this expert.

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The US Treasury Secretary, Janet Yellen, declared that it is “very likely” that the government will exhaust all its resources in early June, which could lead the country to default. However, Yellen assured that they are committed to raising the debt ceiling to avoid delays in payments. In relation to this, the United States Federal Reserve (Fed) stressed yesterday that, if there is no agreement to raise the debt ceiling, it will cause major disruptions in the financial system and more stringent financing conditions.

The central bank’s Federal Open Market Rate (FOMC) split on the size of the 25 basis point rate hike they finally agreed to at their latest monetary policy meeting, which took place on 2-3 April. mayonnaise.

The largest increases within the Ibex 35 were registered by Solaria (+1%), Endesa (+0.43%), CaixaBank (+0.4%) and Grifols (+0.31%). On the other hand, the biggest falls corresponded to Banco Sabadell (-1.63%), Sacyr (-1.14%), Indra (-1.13%), Banco Santander (-1%) and Bankinter, whose shares fell 0.86% at the opening.

In the raw materials market, the price of a barrel of Brent oil, a reference for Europe, stands at $78.09, with a decrease of 0.34%, while the price of Texas oil stands at $73.97 , with a fall of 0.5% At the opening of the European stock markets, the euro was trading at 1.0732 dollars, while the interest demanded on the Spanish ten-year bond stood at 3.544%.

The climate of pessimism and instability due to the US debt crisis has, however, a counterweight on Wall Street after the results of the technology giant Nvidia, which shot up close to 30% in the pre-opening and boosted futures by 1.5% on the Nasdaq and more than 1% in the case of the S&P 500. The company has revised its earnings forecasts upwards due to the boom in orders for new chips to serve the supercomputer and artificial intelligence industry.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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