The European stock markets have traded aimlessly awaiting the words of Jerome Powell. The Ibex 35 has closed with an increase of 0.14% and stands at 9,172 points after having been positive for most of the day. An aimless Wall Street has weighed on European markets. Within the selective, Grifols, Santander and Repsol are the most bullish with gains of around more than 1.7%. For its part, Amadeus is the worst with a fall of 2.7%. Indra and IAG follow with decreases of 1.57% and 0.82%.
Yesterday, the New York stock market continued to react negatively to the good labor market data released by the US government on Friday, which raise fears that the central bank will continue to aggressively raise interest rates.
The pessimism was notable in the public debt market, where the yield curve is still inverted -the short term is more profitable than the long term-, with that of the 10-year Treasury bond rising to 3.649%, and that of paper at 2 years at 4.483%.
Facing today’s agenda, investors will listen carefully to the speech given in Washington by Fed Chairman Jerome Powell, whose latest statements last week caused Wall Street to rise, which saw in them signs of optimism about developments of inflation.
Continuing with central banks, the Reserve Bank of Australia has raised rates 25 basis points in line with expectations, reaching its highest level since September 2012. The subsequent message has been in line with other central banks, there is still work to be done further increases in interest rates will be necessary in the coming months to guarantee that inflation returns to the target of 2%-3%.
In addition, operators are waiting for new results from large US companies this week, including Disney and PepsiCo.
In the commodity market, US crude rose 0.86% to $74.75 a barrel. Brent crude advances to 81.6 dollars per barrel.