The Ibex 35 and the rest of Europe are trading higher ahead of the week’s key data.
The Ibex 35 and the rest of the European stock markets remain calm and positive (Ibex: +0.17%, 8,727; Dax: +1.07%; Cac: +0.97%; Ftse MIB: +0.57 %), consistent with the behavior they have shown this week.. It seems that investors Investors don’t want to make a decision until tomorrow’s release of the US CPI for December.. Within the Spanish selective index, Grifols, Solaria and Naturgy are the stocks that have risen the most, while Cellnex is the worst performer following the news of its CEO’s resignation.
Wall Street ended Tuesday in positive territory and Asia was also in the green early this morning.
” The absence of “hawkish” comments the perfect excuse to stop the downward trend“, says Michael Hewson, head of research at CMC Markets in London. However, he acknowledges that Powell didn’t really give any hints as to what the Federal Reserve (Fed) intends to do with rates..
The Fed Chairman, speaking at an event in Stockholm, simply said that getting inflation under control will require further policy action. “measures that are not popular”He recalled that “price stability is the foundation of a healthy economy”. He avoided launching into specific forecasts, as San Francisco Fed President Mary Daly and Raphael Bostic of the Atlanta Fed did hours earlier, both of whom indicated that it was likely that “price stability is the foundation of a healthy economy”. the Federal Reserve is likely to raise interest rates above 5% and hold them there for some time.
Wednesday’s agenda has no references of interest, investors We are expecting the release of the December US CPI on Thursday. and for which both the overall rate and the base rate should fall.
“This week’s US CPI report is now the next focal point in the consumer price survey. tug of war that is currently underway.The market believes the Fed will have to cut rates this year, while Fed officials insist that no such thing will happen,” adds Hewson.
Elsewhere, the talk continues of China, lifting Covid restrictions, and increasing supply. the tensions between the Asian giant and these countries who have decided to impose control measures on travelers from China. China said that the rules set by South Korea are “discriminatory”.while South Korea has said that 80% of “confirmed imported cases” in the country are from China, “CNBC” reports.
Always on Wednesday, it is a question that the World Bank has drastically reduced growth prospects for this year.warning that the world is “dangerously close” to recession. It therefore lowered its growth estimates for the global economy. to 1.7% by 2023, compared to the previous forecast of 3%..
OTHER MARKETS
The euro is trading at $1.0737 (0.03%). Oil prices are rising moderately. Brent is at $80.55 and WTI at $75.37.
Gold gained half a percentage point ($1,886) and silver 1.3% ($23.97).
Bitcoin adds 1% ($17,436) and Ethereum adds 0.37% ($1,334).
The yield on the US 10-year bond is 3.58%.
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