The local indices rise in tandem with their counterparts in the United States after weaker-than-expected labor figures were released, impacting rate expectations.

Mexican stock exchanges are trading with gains Friday morning. Local stock indices are rising in line with their Wall Street counterparts after weaker-than-expected labor data was released in the United States.

The main S&P/BMV IPC index of the Mexican Stock Exchange (BMV), which measures the most traded local stocks, is up 0.09% at 56,725.35 units. The FTSE BIVA index of the Institutional Stock Exchange (Biva) gains 0.12% at 1,162.29 points.

Within the benchmark index, most stocks are advancing. Standouts include shares of Grupo Televisa, up 2.05% at 10.47 pesos; followed by Cemex, up 2.03% at 13.58 pesos, and Grupo BMV, up 1.35% at 33 pesos.

Nonfarm payrolls in the United States increased by 175,000 jobs last month, reported the Department of Labor, below expectations of 243,000. The figure was also lower than the 315,000 recorded the previous month.

Following the report, bets strengthened that the Fed will apply its first rate cut in September instead of November. The market now also expects two 25-basis-point rate cuts this year, up from one before the data.

Meanwhile, the presidential campaign continues at full throttle. Xóchitl Gálvez announced she will intensify her campaign a month before the election. The PAN, PRI, and PRD candidate for the Presidency of the Republic called from Cajeme, Sonora, “to fight the most important battle of our lives.”