Without Buenos Aires operations, Argentine bonds are confirmed on Wall Street, and country risk falls below 1,500 points.

Stock markets were mixed on Tuesday as investors waited to hear whether the U.S. Federal Reserve Chairman would Jerome Powellleans toward rate cuts after evidence that the U.S. labor market is cooling.

There will be no financial activity in Argentina this Tuesday due to Independence Day celebrations, although there is trading in domestic stocks and bonds that are traded in dollars abroad.

At 1:20 p.m., New York stock market indicators were moving without a trend, with The Dow Jones Industrials fell 0.1%.in contrast to the positive readings of the S&P 500 (+0.2%) and the technology panel. Nasdaq (+0.3%)).

In this context, dollar-denominated shares and ADRs of Argentine companies showed mixed results, led by Telecom (+5.6%) And banking sector, with growth of 2%although on the negative side it stood out Globant (-2.1%).

The sovereign bond wheel was more positive given that titles Global exchange – in dollars with foreign law, series GD- they grew by 0.7% On average, this trend is reflected in a decrease country of risk JP Morgan, which cut 16 units for Argentina, 1486 points basics.

Wall Street is being supported by large-cap tech and semiconductor stocks, which look set to continue their rally on Monday as shares near all-time highs.

Japan’s Nikkei index rose 2 percent to a record high, helped by semiconductor stocks and a weaker yen that boosted overseas profits at Japanese companies.

Chairman of the Federal Reserve System, Jerome Powellnoted the recent inflation data on Tuesday and said that if good data continues to come in, it will become clearer when to cut interest rates. “The latest inflation data have shown some modest progress, and better data would strengthen our confidence that inflation is on a sustainable path toward 2%,” the Fed chairman said Tuesday during testimony before the Senate Banking Committee as part of its semiannual appearance.

Powell insisted that the Fed does not believe it is “appropriate” to cut interest rates until there is “greater confidence that inflation is moving sustainably toward 2%.”

“Incoming data for the first quarter of this year did not confirm the increased confidence. However, the latest inflation data showed some modest progress,” he added. Inflation fell by a tenth to 3.3% in May, the latest available, and June data is due out this week.

“We continue to make decisions meeting by meeting. “We know that unwinding policy too early or too much could halt or even reverse the progress we’ve seen on inflation,” Powell added.

The US central bank’s president delivered his semi-annual policy report last Friday, in which the Fed reaffirmed that it continues to without confidence enough to start implementation interest rates are fallingalthough the outlook is bright thanks to recent declines in inflation and a more balanced labour market.

Longer-term inflation expectations, the Fed notes, “are within the range seen in the decade before the pandemic and remain broadly consistent” with the long-term goal of 2% per year.

For labor marketAnother indicator the Fed is watching closely, he said, is that employment growth has been strong these months and the unemployment rate remains low.