Market Sentiment Deteriorates Amid US-Iran Tensions

Market sentiment deteriorated at the start of the week due to the lack of an agreement between the United States and Iran to restore oil flows through the Strait of Hormuz to reach a ceasefire. On Wall Street, the Nasdaq reports an increase of 0.23 percent, at 22,955.27 points, while the Dow Jones falls 0.35 percent to 47,752.36 points, and the S&P 500 shows no changes, remaining at 6,817.52 units. On the corporate front, investment bank Goldman Sachs fell 4.11 percent after posting a net profit of $5.63 billion, 18 percent more than a year ago, thanks to revenue growth. Other sector indices that are also reporting results this week also opened in the red: JP Morgan fell 1.11 percent; Citigroup, 1.07 percent; and Wells Fargo, 0.91 percent. “The deterioration in market sentiment is pushing oil up, while stocks are retreating from the risk of an energy shock that could fuel inflation. In fact, recent data shows that inflation in the U.S. rebounded in March to its highest level in nearly four years,” note analysts at GBM. How is the Mexican Stock Exchange trading TODAY? Likewise, the opening of local exchanges also shows red numbers. For the main index of the Mexican Stock Exchange, S&P/BMV IPC, the decline is 0.10 percent, at a level of 69,956.36 points, and for the FTSE-BIVA of the Institutional Stock Exchange, the drop is 0.08 percent, at 1,399.01 points. On the European side, losses are 0.95 percent for Spain's IBEX 35, at 18,031 points, followed by France's CAC 40 with 0.39 percent less, hovering at 8,227.31 units, the DAX in Germany is down 0.34 percent, at 23,720.40 points, and London's FTSE 100 that falls 0.21 percent, reaches 10,578.98 points. Meanwhile, in the international oil market, benchmark crude reflect gains of 5.20 percent for West Texas Intermediate, at $101.57 per barrel, while the Brent reference with an advance of 5.34 percent, trades at 100.31 greenbacks per barrel.