2023-06-16 20:48:00
The Chilean stock market was approaching record levels amid the sustained rally of the stock markets at a general level, where the Frankfurt market reached unprecedented heights and the Tokyo one a three-decade high. However, Wall Street found a turning point following new statements from the Federal Reserve in line with the signs of tightening that the central bank displayed in its announcement on Wednesday.
The S&P IPSA rose 0.24% to 5,755.32 points early in the followingnoon at the Santiago Stock Exchange, led by Enel Chile (3.96%), Oro Blanco (3.05%) and CMPC (1.67%).
yesterday thursday the IPSA climbed to its highest level since September 5. If it exceeds 5,779.25 points, it would reach the highest since 2018, while above 5,880.47 it would be a record score.
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Wall Street slows down
The New York Stock Exchange indices were stable.while on the bond side, he treasury The two-year note jumped 8.9 basis points (bp) and the 10-year note rose 5.3 bp.
This Friday, senior Fed officials said they were ready to continue raising rates if necessary. “Core inflation is not coming down as I thought. That’s probably going to take some more tightening to try to bring it down,” Fed Governor, Christopher Waller.
“I’m still not convinced by the story, plausible, that slowing demand brings inflation back to the 2% target relatively quickly,” Richmond Fed president said later in Maryland. Thomas Barkin.
While the Fed sought to tighten on Wednesday following holding the key rate, investors interpreted a spate of new US economic data the next day as permission to extend the buying frenzy.
“After 10 consecutive rate hikes, the Fed announced two more hikes. However, the market doubts that it will follow through on this following lower than expected inflation data and jobless claims rising more than expected, suggesting weakness may be trickling into the labor market,” wrote City Index senior market analyst Fiona Cincotta.
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Europe and Asia
At the close of the European markets, the German DAX climbed 0.41% to record levelswhile the regional Euro Stoxx 50 rose 0.68% and London’s FTSE 100 added 0.19%. On a weekly basis, the Stoxx advanced 2.45%.
“Risk appetite has increased in the latest trading session of a busy week on the macro front. Despite the aggressive stances of the European Central Bank and the Fed, confidence has improved in equities following reports that China is debating a series of measures to support its economy,” ActivTrades technical analyst Pierre Veyret said.
Japan’s Nikkei rose 0.66%, recording a weekly advance of 4.47% to its highest score since March 1990. following the Bank of Japan kept the key rate at -0.1%, faithful to its traditional ultra-loose policy.
Heading towards China, stock markets rose once more on expectations of fiscal stimulus. Hong Kong’s Hang Seng jumped 1.07% and the mainland CSI 300 rose 0.96%with weekly increases of 3.35% and 3.3%, respectively.
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