El Ibex busca esquivar el revés a la IA

The Spanish stock market, known as the Ibex, is seeking to avoid a setback caused by the wobble in Asia due to the decline in stocks heavily tied to artificial intelligence (AI). The volatility in European variable income is being tempered by the respite in debt and oil markets as Wall Street prepares to release its first earnings results.

Banks such as Goldman Sachs, JPMorgan, Citi, and Wells Fargo are among the first to face the aftermath of earnings releases, a crucial factor in keeping the variable income buoyant amid debt and oil pressures. Market participants are increasingly concerned about the disruptive influence of AI on various sectors. Chinese chip companies like ChangXin Memory Technologies (CXMT) are emerging as formidable competitors.

The U.S. Nasdaq closed lower yesterday, and profit-taking has accelerated in Asia today. The Nikkei dropped nearly 2%, and the South Korean Kospi fell over 6%, with its chip giants leading the downturn. European investors find some relief as AI-related pressures are accompanied by greater relief in the debt and oil markets. Brent oil prices ease slightly around $105 a barrel, transferring some of the downward pressure to interest rates.

The 10-year U.S. Treasury yield hovers near 5.20%, far from its recent highs of 5.35%. In Europe, the German bund yields 3.50%, and the Spanish 10-year bond is around 4.10%. The Spanish stock market, represented by the Ibex, closed yesterday's session by consolidating the 1.33% gained the previous day. Caution reappears in the Spanish variable income, somewhat relieved by its limited exposure to AI. The Ibex aims to stabilize near the 19,300 point threshold.