The market is looking at tech stocks again after the cut in business forecasts by the giant Nvidia
The Spanish stock market attempts its fifth consecutive session of gains with moderate progress of 0.3% for the Ibex-35, which is already at 8,787 points, under pressure from Inmobiliaria Colonial and Laboratorios Rovi, the only ones to rise more than one 1% in the first negotiating bars.
We’ll have to wait for Wall Street to open to see if the gains consolidate after a busy night in the world’s major financial market after tech giant Nvidia lowered its business expectations for the next quarter amid the negative impact of the war in Ukraine on its activities in Russia, in addition to the lockdowns in China.
The publicly traded company is down 7% in the market after hours, which could cool the market’s mood a bit more on the sector, one of the worst-hit stock market declines this year.
European investors are also citing this Thursday’s minutes from the latest meeting of the US Federal Reserve (Fed), published yesterday with Old Continent markets already closed and appearing to point to faster-than-expected rate hikes.
As Link Securities analysts explained, investors’ biggest fear was that Committee members would tend to accelerate the rate at which they raise interest rates in order to reach neutral levels as quickly as possible, where, in theory, they neither support nor hinder economic growth.
However, the minutes made no mention of the option to opt for increases of 75 basis points, something the market feared, while the Fed’s intention to continue raising its rates by half a point was confirmed. them on.
At this point, the main reference for the session will be the data with the second estimate of US GDP for the first quarter of the year. It is expected to confirm that the country’s economy has contracted on an annual basis on a quarterly basis, mainly weighed down by the decline in inventories, lower government spending and the widening trade deficit.
Stability in the commodities market is maintained, with oil prices rising slightly, with a barrel of Brent, a benchmark in Europe, at $111.5, while the US West Texas is trading at $110.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
