The day didn’t start particularly well for European stock markets, with falls of over 1% for both the EuroStoxx and Spain’s Ibex. However, sales on this site fell during the day and the main markets closed with slight losses of around 0.4%.
The CPI (Consumer Price Index) data from the United States had to do with this calm, although in August it reported a recovery of 3.7% compared to the 3.2% in July, a tenth more than economists expected in the second month as a result of recovery after the year of declines. However, the market expected that the US Federal Reserve will not raise interest rates again at its next meeting as the recent rise in the consumer price index depends largely on the rise in oil prices.
Although the red color was finally less intense during the day, European stock markets are experiencing a September of corrections after leaving behind a buoyant summer. “The European stock markets are abandoning short-term positions in a decline that is once again taking the EuroStoxx 50 dangerously close to the important support zone, which it finds at around 4,170 points (…), and whose analogous support lies in the Ibex 35.” at 9,170/9,200 points,” develops Joan Cabrero, Ecotrader consultant.
The expert points out that the maintenance of these supports depends on the likelihood of a decline that would bring the European stock markets into the March minimum zone, “the achievement of which I would see as an unbeatable opportunity to restore the European stock market with a vision “buy in the medium term,” he adds.
This year, the Ibex is the most bullish index in Europe, up 14.5%, after the Italian FTSE Mib, which recorded a balance of 20%. Among them, it was also the company that lost the least in Wednesday’s session, although it started the day with heavy losses due to Inditex’s sharp decline, which later moderated.
On Wall Street, where corporate stocks are performing better in September, the pace was more optimistic, with the S&P 500 up 0.3% and the Nasdaq up 0.5%, with data midway through the session. With an increase of 32%, the technology company remains at the top.
