Mexican Stock Exchange Rises After U.S. Inflation Data; Set for 5% Drop in June
Stock indices are moderately up this morning. Among the best-performing companies today are Grupo Televisa, followed by Volaris.
Mexico’s stock exchanges are trading with gains on Friday morning. Local indices are rising after the release of U.S. inflation data, which support bets that the Federal Reserve will cut rates this year.
The benchmark index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which measures the most traded local stocks, is up 0.27% to 52,453.54 points. The FTSE BIVA, from the Institutional Stock Exchange (Biva), gains 0.35% to 1,072.76 points.
Within the benchmark index, most stocks are trading higher. Media company Grupo Televisa stands out with a 2.81% increase to 10.24 pesos, followed by airline Volaris, which is up 2.74% to 12.01 pesos.
However, the local stock market is on track to close a week of losses, contributing to the sharp decline accumulated throughout the month. Since the elections on June 2, the S&P/BMV IPC benchmark index has accumulated a 5 percent loss.
In Other News, the U.S. Supreme Court Upheld Laws Banning Homeless People from Sleeping Outdoors. The U.S. Supreme Court ruled this Friday that laws prohibiting homeless people from sleeping outdoors are constitutional, rejecting arguments that such a practice amounts to cruel punishment.
A record 653,100 people are homeless across the United States, according to a 2023 count.
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