The dollar in Colombia 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 has been in that range for weeks, in fact, the average price today was $ 3,538.29. The representative market interest rate (TRM) for tomorrow, Feb. 19, is $ 3,537.86.
The Colombian Stock Exchange (BVC) Colcap Index, in turn, ended with a loss of 0.92%. The most undervalued stocks were Conconcreto (-3.73%), Cementos Argos (-2.12%) and Ecopetrol (-2%); While ETB (+ 2.01%), Mineros (+ 0.74%) and Grupo Sura (+ 0.53%) were among the most valued, they stood out.
The actions of Wall Street They fell Thursday after disappointing US employment, Walmart earnings (-6.4%) and defense figures, before a congressional hearing, from those primarily involved in the stock market madness over GameStop stocks.
The Dow Jones Industrial Index 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 broad S&P 500 lost 0.4% to 3,913.97.
The losses were sparked when Robinhood co-founder and CEO Vlad Tenev defended the brokerage site in the GameStop frenzy last month. “I’m not trying to throw anyone under the bus,” Tenev said while being bombarded with questions during a virtual hearing. “I can only say that Robinhood followed the books.”
Investors remain optimistic that the government will approve more stimulus spending, but they are unsure whether President Joe Biden will receive approval for the full $ 1.9 trillion package he announced.
Analysts also pointed to concerns about high equity valuations and rising US Treasury yields in anticipation of higher inflation. Yields on the 10-year Treasury remained feverish, rising above 1.31% in the morning to hover around 1.28% at the end of the session.
other assets
Oil prices fell on Thursday, ending three sessions of rally, despite a larger-than-expected decline in US oil reserves.
The barrel of Brent the North Sea for delivery in April fell 0.64% in London to $ 63.93. However, it hit US $ 65.52 during the session, a price not seen since January 2020. The barrel of WTI for the month of March, it dropped 1.01% to US $ 60.52. During the day, it reached US $ 62.26 for the first time in over a year.
The prices of the two reference barrels have increased by almost 25% since the beginning of the year.
According to figures released Thursday by the United States Energy Information Agency (EIA), commercial crude oil reserves in the United States fell 7.3 million barrels (MB) last week. It was the fourth consecutive week of a decline, exceeding analyst expectations, who predicted a 2.2 MB decline.
“While the latest EIA report is optimistic for prices, WTI is struggling to top the recent high of $ 62 a barrel,” said Bart Melek of TD Securities. “If a barrel of WTI in excess of US $ 62 (US $ 65 for Brent) is possible, these additional increases may not last with the increase in global supply from April, when the Saudis’ equivalent of a million barrels per day ‘will produce, the expert explained.
As part of an agreement with its OPEC + partners, Saudi Arabia adheres to production quotas to avoid flooding a market undermined by the effects of the pandemic. The cold snap hitting part of the United States, including Texas, the country’s energy lung, has also contributed to price hikes during recent sessions, due to the risk of production stoppages.
But experts agree this is temporary. To Bart Melek, everything suggests that “WTI and Brent are likely to trade $ 5 below their recent highs for the foreseeable future.”