Overview
- The S&P/BMV IPC opened down 0.42% at 62,265.06, marking a third straight decline days after a record, with Grupo Peñoles dropping about 5.4%.
- U.S. equities opened lower as investors questioned lofty AI-driven valuations; semiconductor shares were hit, and Applied Materials fell 6.3% on a warning about weaker China spending.
- Market-implied probabilities for a 25 bp Fed cut in December slipped to roughly the low-50% range, following hawkish commentary from officials including Alberto Musalem and Beth Hammack.
- Oil prices rose more than 1% after a drone strike halted exports from Russia’s Novorossiysk port, heightening supply concerns.
- By the U.S. close, stocks were mixed: the Dow fell about 0.65%, the S&P 500 was nearly flat, and the Nasdaq inched higher, leaving the week modestly positive for the Dow and softer for tech.