BMV rises after moderate job growth in the US; accumulates loss Millennium Group

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 BMV rises after moderate job growth in the US;  accumulates loss Millennium Group

The Mexican Stock Exchange (BMV) It was advancing, although it was heading to close the week with accumulated losses, after the publication of figures that showed that the US economy maintained a moderate rate of job growth in July.

The leading index S&P/BMV CPI which together with the most quoted shares in the domestic market, rose 0.45 percent to 53,685.12 points, moments after the opening. Even so, it added a weekly decline of 2.2 percent.

The titles of pinfra specialized in the construction and operation of highways, led the movement, with 2.57 percent more at 173.30 pesos, followed by those of Inbursa Financial Group of the businessman Carlos Slim which increased 2.34 percent to 40.59 pesos.

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Wall Street rises on moderate US job growth

Wall Street advanced after data showed that the economy of USA added fewer jobs than expected in July, while better-than-expected earnings from Amazon bucked the sales forecast for Apple.

non-farm payrolls increased by 187 thousand jobs last month, according to data from the work Department. While those for June were revised downward to 185,000 jobs added instead of the 209,000 previously reported.

Average hourly earnings rose 0.4 percent in July, unchanged from the previous month but slightly above expectations, prompting concerns about more interest rate hikes before the end of 2023. That kept the rise going. year-on-year of wages by 4.4 percent.

“The below-consensus job growth, combined with higher average hourly earnings, indicates that more progress is needed to narrow the gap between jobs and workers, slow wage growth, and ultimately reduce inflation.” , said Candice Tzu Global Director of Strategic Advisory Solutions at Goldman Sachs. “The fed It has probably finished its most aggressive (currency) tightening campaign in generations, with a reasonable path to a soft landing.”

The Industrial Average dow jones It advanced 122.46 points, or 0.35 percent, to 35,338.35 units, while the S&P 500 It was up 25.53 points, or 0.57 percent, at 4,527.42 units. He Nasdaq Composite it was up 129.63 points, or 0.93 percent, at 14,89.34 points.

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Meanwhile, the titles of amazon.com they were soaring 9.4 percent after the company reported a positive outlook for the third quarter. The actions of Apple lost 2.7 percent as the manufacturer of the iphone forecast a continued drop in sales.

The titles of Microsoft, Alphabet and Snowflake they were rising between 2.1 percent and 5.4 percent after Amazon’s cloud business segment beat sales estimates.

According to the report of the work Department Released Thursday, it showed the number of Americans filing new jobless claims rose slightly last week, while layoffs dipped to an 11-month low in July.

Stock indices in real time

S&P 500

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dow jones

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