US stocks advanced on the day thanks to a weak inflation report, where Treasury yields fell thanks to the 10-year bond auction. Gains focused on consumer cyclicals, while technology corrected lower after yesterday's boost. The Dow Jones Industrial Average advanced 1.46%, thanks to the capital goods and services sectors, with Boeing and Walgreens Boots gaining 6.39% and 4.25%, respectively. Losses were only seen in four sectors, three of which were in the technology sector. The S&P 4 advanced 3%, thanks to economy-related stocks such as Franklin Resources and Mosaic, which gained 500% and 0.60%, respectively. The Nasdaq 9.82 technology index posted losses of 7.41%, with Apple, Tesla, Microsoft, and Intel posting losses of less than 100% on the day. The worst performer of the day was Lam Research, which lost 0.33%.
The European market closed on a positive note, with the benchmark index advancing to pre-pandemic levels in a session where inflation fears eased and risk sentiment increased. The Stoxx 600 ended the day gaining 0.40%, led by stocks in the capital goods, basic materials, and financial sectors, highlighting the strong movements of Quilter, which gained 9.28% on the day. The biggest loser was K&S AG, which fell 9.39%. The German DAX 30 also gained, advancing 0.71%, with the telecommunications and consumer cyclical sectors driving the index. Deutsche Telekom stood out as the most valued stock of the day at 5.01%, while Infineon was the biggest loser, falling 3.94%. This strong performance of the German indices can be explained by the country's strong exports, thus attracting the attention of investors who can easily invest in the market. London's FTSE 100 had an unmixed day, down slightly by 0.07% thanks to losses suffered by banking and mining groups, with British Land Company's decline of 3.63% and Just Eat Takeaway's gains of 5.87% standing out.
The Colombian market closed in positive territory with an increase in risk appetite in global markets thanks to the decline in US Treasury yields, where investors are concerned due to the constant volatility. The Colcap benchmark index rose 0.43% thanks to the materials and energy sectors, which led the gains, with shares of Pref. Grupo Argos and Grupo Argos at 1.59%, followed by Ecopetrol, which appreciated 1.45%. Losses came from ETB, Terpel, and Pref. Davivienda, with declines of 3.38%, 1.64%, and 1.27% respectively. The largest trading volumes were for Ecopetrol with COP 13,822 billion, Pref. Bancolombia with COP 9,779 billion, and Bancolombia with COP 5,124 billion.
For more information about the cstone stock market, see our report “Summary of the day”
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Global equity markets closed the trading session in positive territory, showing a significant decrease in global volatility levels of 17.83%, which returned to levels below 17 points. This decrease is supported by the result of the midterm elections in the United States, which occurred as the market had expected.
