{"id":16628,"date":"2024-04-08T08:48:47","date_gmt":"2024-04-08T06:48:47","guid":{"rendered":"https:\/\/creandgroup.com\/opinion-article\/el-mercado-tropieza-en-el-2o-trimestre\/"},"modified":"2024-04-08T16:29:58","modified_gmt":"2024-04-08T14:29:58","slug":"stumbling-into-the-2nd-quarter","status":"publish","type":"opinion-article","link":"https:\/\/creandgroup.com\/en\/opinion-article\/stumbling-into-the-2nd-quarter\/","title":{"rendered":"Stumbling into the 2nd quarter"},"content":{"rendered":"\n<p>Last week the Dow Jones Industrial Average (-2.3%) and Russell 2000 (-2.9%) each fell more than 2.0% and the S&amp;P 500 and Nasdaq Composite declined 1.0% and 0.8%, respectively.&nbsp; Nine of the 11 S&amp;P 500 sectors finished lower. The health care sector (-3.1%) saw the steepest decline after the government left its originally proposed payment rate increase for Medicare Advantage plans for 2024-2025 unchanged at 3.70% against expectations for an increase. The real estate (-3.0%) and consumer staples (-2.7%) sectors were also notable laggards.&nbsp; Meanwhile, the energy (+3.9%) and communication services (+2.5%) sectors were alone with gains at the end of the week.<\/p>\n\n\n\n<p>The downside was driven to a sharp increase in interest rates amid some solid economic data and worrying inflation figures.&nbsp;The yield on the 10-yr US Treasury yield jumped 12 basis points to 4.33% and the 2-yr note yield rose 10 basis points to 4.72%.<\/p>\n\n\n\n<p>Specifically, the February Personal Spending and Income report, released on Friday March 29<sup>th<\/sup> (on a holiday), showed some sticky inflation figures in the form of the PCE Price Indexes. Some of last week&#8217;s data, which included the March ISM Manufacturing Index and the March employment report, reflected ongoing strength in the economy.<\/p>\n\n\n\n<p>Furthermore, several Fed officials spoke last week and for the most part, the discourse was quite hawkish.\u00a0 This included Minneapolis Fed President Neel Kashkari saying it&#8217;s possible the Fed might not cut rates this year if progress on inflation stalls.\u00a0 <\/p>\n\n\n\n<p>Finally, increased geopolitical tensions\u00a0in the Middle East related to a potential retaliation by Iran against Israel also contributed to the negative bias this week.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"featured_media":15928,"template":"","categories":[479,666],"tags":[696],"class_list":["post-16628","opinion-article","type-opinion-article","status-publish","has-post-thumbnail","hentry","category-research-en","category-financial-analysis","tag-informe-semanal-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/opinion-article\/16628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/opinion-article"}],"about":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/types\/opinion-article"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/media\/15928"}],"wp:attachment":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/media?parent=16628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/categories?post=16628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/tags?post=16628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}