Wall Street closes in the red. Stock markets in Mexico and Colombia are down by more than…

Good evening! OsoToro brings you the daily summary of the markets closing

🗽 On the streets of Wall Street:

The actions of US stock markets could not sustain the gains and closed Friday in the red, With the Dow Jones and Nasdaq Composite Indexes among the most significant decliners at the close of the session.

falls happen between Concern about the debt ceiling debate being delayed To avoid default in the North American countryAlthough the Speaker of the House, Kevin McCarthy, has said he will reach an agreement with President Joe Biden by next week. This is on May 19th McCarthy, along with other GOP negotiators, abruptly walked out of a closed-door meeting with their White House counterparts. In the midst of talks to avoid default.

On the other hand, after hints Jerome Powell, Chairman of the Federal Reserve, about what It is time to stop rising US interest rates.Traders are now weighing low odds for the Fed to raise interest rates at the next meeting in June. according bloombergBets on a June rate hike by the Fed fell to 25% after markets heard Powell’s remarks.

The Wall Street Indicator Boxes Dow Jones He who led the losses, With lower returns in the Telecom Services (-1.92%), Non-core Consumer Products (-0.97%) and Industrial (-0.44%) sectors.. Eight of the ten sectors of the Dow Jones Industrial Average closed the day in the red.

In the telecommunications services category, the biggest loser was Walt Disney (dis), which decreased by 2.57%; While in the consumer non-essential category, the actions with the lowest performance for the session were those taken by Nike (NKE).

Meanwhile, andThe consumer durables and apparel sector of the S&P 500, which posted the biggest drop, was 2.69%.The worst performing stock today was VF Corp (HRV), down 8.18%, and Nike, whose share fell 3.46%.

The other component of the S&P500 that posted losses on Friday was distribution and retail discretionary consumer goods sales, Where the decliners were shares of Ulta Beauty (last), with a decrease of 4.39%, and Etsy (ETSY), down 3.56% by the end of the day.

🌎 In the region:

In Latin America, most stock markets closed higher todaywith the Mirval from Argentina Returning to lead good performance driven by good results in the agricultural and industrial sectors. by contrast, Colombia and Mexico markets fell more than 1% and closed negative on Friday.

In the Mexican Stock Exchange (Mxpol) The decline of 1.75% was led by declines in the telecommunications services sectors, which recorded -2.86% at the end of the day, and materials, as shares declined by 2.65%. In telecom services, the decline was due to a decline in shares of América Móvil (AMXB), a company owned by billionaire Carlos Slim, which posted a return of -3.22%. This was followed by a decline in Televisa shares (televu), which posted a return of -0.56%.

On the other hand, in the materials sector, shares of Grupo México SAB (GMEXICOB(down 4.29%, followed by Orbia Advance Corp)Europe), by -2.84%, and Grupo Cementos de Chihuahua leaves (GCC) by -1.49%.

On the other side, colcap index columbia (colcap) was down 1.13% at the end of the day and the Colombian stock market was the second worst performer among its regional peers. in this arena The largest decline in stocks was in the categories of basic consumer goods (-2.67%) and public services (-2.54%)..

In Colcap’s consumer staples category, the measure that drove results down was Nutresa (nutresa), down by 2.67% by the end of the day; While in the GS, losses were led by Interconexión Eléctrica SA (he), down 4.41%, and by Empresa de Energía de Bogotá (GEB) whose share recorded a decrease of 0.41%.

In contrast to Merval (Merval(Increased by 2.25% at the close of the session, led by shares of the Argentine stock exchanges and markets)BYMA), which increased by 8.75%; mergor verbs (MIRG), which registered a rise of 7.81%; and shares of Transportadora Gas del Norte (TGNO4) which rose by 6.88% on the day.

Among some of the novelties in the region, new economic data in Peru points to a Private investment in the first quarter of 2023 decreased by 12%.thus recording one of the worst records since the third quarter of 2009 without considering the quarters hit hard by the Covid-19 pandemic in 2020. Meanwhile, The International Monetary Fund lowered its forecast for economic growth in this country From 2.4% to 2.2% for 2023.

🍝 Dinner info:

Competition is coming for Twitter Inc: Instagram, which is owned by Meta Platforms (META), plans to launch a text-focused app That would become a direct player in the field of social network Blue Bird, as reported by Bloomberg.

According to the latest reports, the to request Who is developing the Instagram team It will be independent of this social network but will allow you to link accounts, and it could debut in June. Leah Habermann, professor of social and influencer marketing at the University of California, Los Angeles, posted a screenshot of an early description of the app.

It may eventually be compatible with other competing Twitter apps, including Mastodon, As shown by Habermann’s screenshot.

It turns out that Instagram is currently testing the project with influencers and celebritiesaccording to familiar people who have been in contact with them Bloomberg News. It’s been secretly available to Creators Choice for months. So far, Instagram has not responded to a request for comment on the matter.

We should remember that not so long ago American businessman Elon Musk, founder of Tesla, has acquired Twitter in a process not without controversy That alienated many users opposed to the billionaire’s stance and decisions on the platform. After Musk’s purchase of Twitter, Twitter Blue released its monetizable alternative, which limited verification checks for those who pay the service’s monthly subscription. Along the way, people who have used Twitter have started looking for alternatives, but so far there is a gap in the market that no other social network has been able to fill.

Historically, we know that Meta likes to test and recreate features from other third-party apps and tools based on what they expect will be popular with their users.Habermann said. The professor also noted that Musk talked about turning Twitter into a “The app for everything‘, with many functions in addition to the media functions.

“Based on Meta’s history of borrowing from other platforms, it’s very likely that they’ll get there first by integrating all of these experiences that they’re building.”pointed out.

➡️ Instagram is preparing to rival Twitter for the middle of the year