The Colombian dollar closed at $ 3,547.33 on Thursday, up 0.78%.
In Thursday’s session, the dollar closed at $ 3,547.33, up 0.78%. The US currency falls within this week, in fact, the average price today was $ 3,538.29. The representative market rate (TRM) for tomorrow, February 19, will be USD 3,537.86.
In turn, the Colcap index of the Colombian Stock Exchange (BVC) ended with a loss of 0.92%. The most undervalued shares were Conconcreto (-3.73%), Cementos Argos (-2.12%) and Ecopetrol (-2%); While among the most appreciated, ETB (+ 2.01%), Mineros (+ 0.74%) and Grupo Sura (+ 0.53%) stood out.
The actions of Wall The street On Thursday, after disappointing US employment data, Walmart earnings fell (down 6.4%) and the defense, before the congressional hearing, of those mainly involved in the stock market frenzy over GameStop shares.
The Dow Jones industrial average closed 0.38% lower at 31,493.34. The Nasdaq Composite Index, with a technology component, fell 0.72% to 13,865.36, while the core S&P 500 lost 0.4% to 3,913.97.
The losses were fueled when Robinhood co-founder and CEO Vlad Tenev last month defended the management of the GameStop frenzy brokerage site. “I’m not trying to throw anyone under the bus,” Tenev said as he was bombarded with questions during a virtual hearing. “All I can say is that Robinhood followed the books.”
Investors remain optimistic that the government will approve more stimulus spending, but are unsure whether President Joe Biden will get approval for the entire $ 1.9 trillion package he announced.
Analysts also noted concerns about high valuations of equity and rising US Treasury yields in anticipation of higher inflation. The 10-year Treasury yields remained feverish, rising above 1.31% in the morning, before moving around 1.28% by the end of the session.
Other goods
Oil prices fell on Thursday, ending three rally sessions, despite a larger-than-expected drop in crude oil reserves in the United States.
The barrel of Brent The North Sea for April delivery fell 0.64% in London to $ 63.93. However, it reached $ 65.52 during the session, a price that had not been seen since January 2020. WTI for March, it lost 1.01% to $ 60.52. During the day, it reached $ 62.26, for the first time in more than a year.
The prices of the two reference barrels have appreciated by almost 25% since the beginning of the year.
According to figures released on Thursday by the United States Energy Intelligence Agency (EIA), US crude oil reserves fell by 7.3 million barrels (MB) last week. It was the fourth consecutive week of decline and exceeded analysts’ expectations, which had forecast a decline of 2.2 MB.
“Although the latest EIA report is compelling in terms of pricing, WTI is striving to exceed its last maximum of US $ 62 per barrel,” said Bart Melek of TD Securities. “If a barrel of WTI above $ 62 ($ 65 for Brent) is possible, these additional increases may not last as the global supply grows in April, when the Saudis will produce” the equivalent of one million barrels a day, “he said. the expert.
As part of an agreement with its OPEC + partners, Saudi Arabia remains at production levels so as not to flood a market undermined by the impact of the pandemic. The cold snap affecting part of the United States, including Texas, the country’s energy lung, has also contributed to rising prices in recent sessions due to the risk of production disruption.
But experts agree that this is temporary. For Bart Melek, all indications are that “WTI and Brent are likely to trade $ 5 below their recent highs” in the near future.