El interés en corto de Global X MSCI Argentina ETF da a los inversores una idea del grado en que los inversores apuestan por la caída de las acciones de Global X MSCI Argentina ETF. Los datos de interés en corto se actualizan cada dos semanas.

Global X MSCI Argentina ETF (ARCA:ARGT), Informe de interés en corto

Global X MSCI Argentina ETF

Technology

Energy

Financial Services

Utilities

Consumer Defensive

Basic Materials

Consumer Cyclical

Industrials

Communication Services

Other

The Fund invests at least 80 percent of its total assets in the securities of the MSCI All Argentina 25/50 Index (Underlying Index) and in American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs) based on the securities in the Underlying Index. The Fund also invests at least 80 percent of its total assets in securities of companies that are economically tied to Argentina. The Fund's 80 percent investment policies are non-fundamental and require 60 days prior written notice to shareholders before they can be changed. The Fund may lend securities representing up to one-third of the value of the Funds total assets (including the value of the collateral received).

Mercadolibre Inc - Common

Ypf S.A.-Sponsored Adr Depositary Receipt

Banco Macro Sa

Ssr Mining Inc

transportadora De Gas Del Sur S.a. Spons Ads Each Repr 5 Class'b'ars1

Cencosud SA

Arcos Dorados Holdings, Inc., Class A

Vista Energy Sab De Cv

Despegar.Com Corp

Vista Energy Sab De Cv, Adr

Argentine flag

Sector ETFs

Specialty ETFs

ETFs

ARGT

BABA

GGAL

MELI

TCEHY

El ETF ARGT sube un 3,5 % tras la flexibilización de divisas en Argentina, superando al S&amp;P 500 y EEM. ¿Es momento de invertir?

ARGT supera al S&amp;P 500 y EEM tras flexibilización de divisas en Argentina

Latin America

News

Emerging Markets

Politics

Global

Markets

Las reformas de Milei impulsan el mercado argentino con un crecimiento del S&amp;P Merval del 175%, pero aumentan el desempleo y la pobreza.

Impacto de las reformas de Milei: Mercado argentino en auge y desafíos sociales

Equities

Mid Cap

Movers

AWAY

DESP

Despegar.com será adquirida por Prosus en una transacción en efectivo que valora a la empresa en $1.700M. El acuerdo se cerrará en 2025.

Despegar.com (DESP) será adquirida por Prosus por $19,50 por acción

<a href="https://www.bloomberg.com/news/articles/2025-06-30/argentina-must-turn-over-its-51-stake-in-ypf-us-judge-rules" title="https://www.bloomberg.com/news/articles/2025-06-30/argentina-must-turn-over-its-51-stake-in-ypf-us-judge-rules">https://www.bloomberg.com/news/articles/2025-06-30/argentina-must-turn-over-its-51-stake-in-ypf-us-judge-rules</a>

Legal

'U.S. Judge Orders Argentina To Transfer 51% Stake In Oil And Gas Company YPF, To Partially Satisfy $16.1B Judgment' - Bloomberg News

<a href="https://earthquake.usgs.gov/earthquakes/eventpage/us7000pwkn/executive" title="https://earthquake.usgs.gov/earthquakes/eventpage/us7000pwkn/executive">https://earthquake.usgs.gov/earthquakes/eventpage/us7000pwkn/executive</a>

Macro Economic Events

Economics

Watching Companies With Argentina Exposure; 7.4 Magnitude Earthquake 219km S Of Ushuaia, Argentina

On April 24, 2025, iShares MSCI Argentina and Global Exposure ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) dashed ahead of leading indices, making even the S&amp;P 500 and the popular iShares MSCI Emerging Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEM#NYSE">EEM</a>) nervously trying to catch up.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44706269/argentinas-congress-approves-investigation-of-scam-ridden-libra-token-promoted-by-president-javier-milei">Argentina&#8217;s Congress Approves Investigation Of Scam-Ridden LIBRA Token Promoted By President Javier Milei</a>
As reported by <a href="https://www.benzinga.com/topic/eric-balchunas">Bloomberg analyst Eric Balchunas</a>, ARGT closed at $42.35, a steep 3.5% daily advance from its earlier close of $40.90. In comparison, the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose just 0.5% to $498.12, and the Emerging Markets ETF, a broader indicator of emerging countries, managed a 1.2% gain, closing at $43.70.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">TIL The Argentina ETF has been absolutely destroying <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPY</a> and EM (altho that isn&#39;t that hard).. wow <a href="https://twitter.com/search?q=%24ARGT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ARGT</a> <a href="https://t.co/S7GBs64yrS">pic.twitter.com/S7GBs64yrS</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1915394943587098962?ref_src=twsrc%5Etfw">April 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
So, what&#8217;s driving this Latin rally? Argentina&#8217;s recent move to relax long-standing currency controls has ignited investor enthusiasm. The government&#8217;s action was an appreciated tango step toward liberalization, drawing capital inflows and prompting a surge in equity demand, Blockchain News <a href="https://blockchain.news/flashnews/argentina-etf-outperforms-spy-and-emerging-markets-a-trading-analysis">said</a>. 
Also Read:<a href="https://www.benzinga.com/markets/equities/25/03/44568118/is-us-taking-cues-from-argentinas-bold-reforms-that-sparked-a-market-rally"> Is US Taking Cues From Argentina&#8217;s Bold Reforms That Sparked A Market Rally?</a>
ARGT Vs EEM: Apples And Empanadas
While EEM provides diversified exposure across nations such as China, India, Brazil and South Korea, ARGT is far more focused, following the MSCI All Argentina 25/50 Index, which concentrates on the top 20 Argentine firms. That makes ARGT riskier but also more responsive to domestic economic reform, a risk and an opportunity. ARGT places a heavy weight on local players like MercadoLibre (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>), YPF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YPF#NYSE">YPF</a>), and Grupo Financiero Galicia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GGAL#NASDAQ">GGAL</a>), giving it a high beta.
EEM, on the other hand, leans toward Chinese tech giants like Tencent (OTCPK: TCEHY) and Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), as well as those from South Korea and India. This insulates the fund from country-specific shocks. But as a tradeoff, the upside is less explosive when a single market surges.
Additionally, ARGT levies a bit higher fee of 59 basis points compared to EEM&#8217;s 68 bps but provides a more focused bet on a single recovering market.
For those with a taste for measured risk and a preference for macro-fueled momentum, ARGT may be the spicier dish to try. As EEM continues to offer a well-balanced, globally diversified option, ARGT&#8217;s high-conviction exposure to Argentina&#8217;s liberalizing economy offers a high-reward option, along with a side of risk. As Buenos Aires opens the throttle and investor enthusiasm warms up, ARGT may remain a popular choice.
Read Next: 
<a href="https://www.benzinga.com/etfs/sector-etfs/25/04/45020234/forget-nvidia-etfs-are-quietly-piling-into-amd-do-they-know-something-we-dont">Forget Nvidia, ETFs Are Quietly Piling Into AMD — Do They Know Something We Don&#8217;t?</a>
Photo: Shutterstock

ARGT Vs EEM: Why Argentina's Focused ETF Is Gaining The Edge

Argentina has clinched $42bn in medium-term funding from the International Monetary Fund (IMF) and two other financial institutions as it announced it is abandoning most of its tight currency controls.
 &nbsp;

WIIM

BBAR

CEPU

CRESY

LOMA

SUPV

Telecom Argentina Stet - France Telecom S.A.

Shares of US-listed Argentine stocks are trading higher after Argentina received IMF funding and eased FX controls.

The World Bank's Global Economic Prospects report, released Thursday, highlights a fragile outlook as inflation, trade disruptions, geopolitical tensions and policy uncertainty weigh on momentum.
The global economy is expected to stay stuck at 2.7% growth in 2025-&#8217;26, a pace too weak to <a href="https://www.benzinga.com/news/econ-s">drive real economic progress.</a>
Emerging markets, which power 60% of global expansion, are no longer closing the gap with advanced economies as quickly as they once did. 
Yet, some are bucking the trend, with a few poised to grow above 5%, offering rare opportunities for investors in an otherwise sluggish environment.
<h1 class="wp-block-heading">Argentina's Rebound Under Milei's Reforms</h1>
Argentina's economy is staging a comeback, with GDP expected to expand 5% in 2025 and 4.7% in 2026. This sharp rebound follows two years of contraction, driven by a steep currency devaluation and trade imbalances.
"Argentina has seen significant improvements in activity in commodity-related sectors, including agriculture, energy and mining," the World Bank said in its report. The country's trade surplus has also grown, helped by a sharp drop in imports following the peso's depreciation.
President Javier Milei's sweeping economic reforms — focused on slashing government spending, deregulating industries, and stabilizing inflation — are beginning to take hold.
Investor confidence is returning, fueling a 78% surge in the Global X Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) over the past year. 
The fund has already attracted more than $700 million in inflows since mid-January 2024.
<h1 class="wp-block-heading">Indonesia: Stable Growth At 5.1%</h1>
Indonesia, Southeast Asia's largest economy, is expected to grow 5.1% in 2025, supported by strong domestic consumption and exports of palm oil, coal, and other commodities.
Despite solid economic growth, the iShares MSCI Indonesia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIDO#NYSE">EIDO</a>) has struggled, posting a 14% decline over the past year. 
This weakness reflects concerns over global commodity demand and capital outflows from emerging markets.
<h1 class="wp-block-heading">Philippines: A 6.1% Expansion Fueled By Services</h1>
The Philippines is on track for 6.1% GDP growth in 2025, according to the World Bank. This growth is fueled by its booming services sector, particularly business process outsourcing and remittances from overseas workers. 
Government-backed infrastructure spending is also providing a lift.
Yet, the iShares MSCI Philippines ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPHE#NYSE">EPHE</a>) has underperformed, slipping 4.6% in the past year. 
<h1 class="wp-block-heading">Vietnam's Manufacturing Strength</h1>
Vietnam is expected to be one of the fastest-growing economies in 2025, with a projected 6.6% expansion. 
"Vietnam's growth spell was both transformative and inclusive," the World Bank said, noting the country ranks among the top emerging markets in achieving sustainable development goals.
The manufacturing sector remains the backbone of Vietnam's economy, benefiting from foreign direct investment and a shift in global supply chains away from China. 
However, the VanEck Vietnam ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNM#NYSE">VNM</a>) has struggled, dropping 11% over the past year, reflecting broader volatility in emerging markets and China&#8217;s economic slowdown.
<h1 class="wp-block-heading">India: The Growth Powerhouse</h1>
India, the world's fastest-growing major economy, is expected to expand 6.7% in 2025. Though slower than the 8.2% growth recorded in 2023, the country's economic engine remains strong, powered by resilient consumer spending and steady services activity.
Higher inflation and slower credit expansion have dampened urban consumption, but long-term fundamentals remain intact. 
The iShares MSCI India ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/INDA#BATS">INDA</a>) gained 4% over the past year, outperforming many other emerging market funds.
Investors continue to back India's growth story, with over $800 million of inflows over the past year.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Total Return (3М)</td>
<td>Total Return (YTD)</td>
<td>Total Return (1Y)</td>
<td>Total Return (5Y)</td>
<td>Total Return (2024)</td>
<td>Total Return (2023)</td>
<td>Fund flows (1 Year) – USD mn</td>
</tr>
<tr>
<td>Global X Argentina ETF</td>
<td>24.86%</td>
<td>4.84%</td>
<td>78.24%</td>
<td>252.05%</td>
<td>63.46%</td>
<td>53.64%</td>
<td>727.51</td>
</tr>
<tr>
<td>VanEck Vietnam ETF</td>
<td>-8.47%</td>
<td>-1.61%</td>
<td>-11.41%</td>
<td>-24.27%</td>
<td>-11.15%</td>
<td>15.01%</td>
<td>-71.93</td>
</tr>
<tr>
<td>iShares MSCI India ETF</td>
<td>-9.87%</td>
<td>-3.02%</td>
<td>4.09%</td>
<td>53.12%</td>
<td>8.63%</td>
<td>17.16%</td>
<td>867.22</td>
</tr>
<tr>
<td>iShares MSCI Philippines ETF</td>
<td>-14.24%</td>
<td>-1.96%</td>
<td>-4.66%</td>
<td>-20.87%</td>
<td>-1.41%</td>
<td>1.27%</td>
<td>-0.32</td>
</tr>
<tr>
<td>iShares MSCI Indonesia</td>
<td>-16.02%</td>
<td>-0.65%</td>
<td>-14.01%</td>
<td>-20.57%</td>
<td>-13.02%</td>
<td>2.56%</td>
<td>-98.18</td>
</tr>
</tbody>
</table>
</figure>

Emerging Market ETFs

iShares MSCI Indonesia Investable Market Index Fund

EIDO

ISHARES MSCI PHILIPPINES INVESTABLE MARKET INDEX FUND

EPHE

INDA

Five Emerging Economies Poised For 5% Growth In 2025: Should You Buy These ETFs?

Javier Milei took office as the President of Argentina in December 2023 and took his trademark chainsaw to the country's economic policies. Interest in several Argentina-based stocks has been rising as his <a href="https://www.benzinga.com/startups/24/12/42513867/elon-musk-praises-argentinas-31-spending-cuts-under-milei-but-what-about-the-recession">drastic reforms take hold. </a>
What To Know: Milei, a self-described anarcho-capitalist, has implemented significant economic reforms since he took office almost exactly one year ago. He cut spending on government programs, including healthcare, welfare, and education, substantially and dismissed more than 30,000 government employees. 
Argentina's monthly rate of inflation has come down from 25% in December 2023 to 2.4% in December 2024 and the country achieved a fiscal surplus for the first time in 15 years.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/asia/24/12/42692036/billionaire-investors-michael-burry-david-tepper-could-benefit-from-chinas-stimulus-measures">Billionaire Investors Michael Burry, David Tepper Could Benefit From China&#8217;s Stimulus Measures</a>&nbsp;
While Milei&#8217;s policies have reduced inflation and boosted market performance, they have also led to increased poverty and unemployment rates, with significant challenges for the working class. However, a Gallup poll conducted at the one-year mark of Milei&#8217;s presidency shows his personal approval rating at 48%. 
Businesses in Argentina appear to be thriving under Milei's administration, with the country's stock market, as measured by the S&amp;P Mervel Index, up more than 175% in 2024.
The Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>), which invests in companies with exposure to Argentina and tracks the MSCI All Argentina 25/50 Index, has gained more than 65% year-to-date.&nbsp;
MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>), a Latin American e-commerce company based in Argentina, is up 10% this year and shares of YPF SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YPF#NYSE">YPF</a>), an Argentina-based oil and gas company, have soared more than 150% in 2024.&nbsp;
Analysts at BBVA Research <a href="https://www.bbvaresearch.com/en/publicaciones/argentina-economic-outlook-december-2024/">said that after</a> a brief recession in 2024, fourth-quarter data showed improvements which are complemented by renewed confidence in Argentina's government.&nbsp;
BBVA Research sees a recovery for the economy in 2025 driven by private consumption and investment,&nbsp; "creating a positive outlook for 2025."
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42653466/honda-nissan-plan-to-merge-in-the-face-of-chinese-ev-competition">Honda, Nissan Confirm Merger Plans To Offset Chinese EV Competition: How Mitsubishi Factors In</a></li>
</ul>
Image: Shutterstock&nbsp;

Milei's Economic Chainsaw Slashes Inflation As Argentine Stocks Explode 175%

Despegar.com, Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESP#NYSE">DESP</a>) shares are surging premarket on Monday after the company disclosed a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42643653/despegar-com-enters-into-merger-agreement-to-be-acquired-by-prosus-for-19-50-per-share-in-cash" rel="noreferrer noopener">deal to be acquired</a> by Prosus for $19.50 per share in an all-cash transaction.
The transaction price reflects a 34% premium over Despegar&#8217;s 90-day volume-weighted average share price as of December 20, 2024.
Despegar&#8217;s Board of Directors has approved the merger agreement and recommended shareholder approval following the unanimous endorsement of a Transaction Committee composed of independent directors.
The deal values Despegar at approximately $1.7 billion in enterprise value.
Despegar will gain access to Prosus&#8217; extensive resources, operational expertise, and advanced AI capabilities.
As per the deal, a wholly owned subsidiary of Prosus will merge with Despegar, with Despegar remaining as the surviving entity.
Each outstanding share of Despegar will be converted into the right to receive $19.50 in cash, while the company&#8217;s Series A Preferred Shares will be canceled and converted into payments as specified by their terms.
The transaction is anticipated to close in the second quarter of 2025, pending shareholder approval, regulatory clearances, and other <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42643979/prosus-to-acquire-latin-americas-leading-online-travel-agency-despegar-for-us-1-7bn" rel="noreferrer noopener">customary closing conditions</a>.
Following the transaction&#8217;s completion, Despegar will transition to a privately held company. Its ordinary shares will be delisted from the New York Stock Exchange and will no longer trade on any public market.
Damian Scokin, Despegar&#8217;s CEO said, &#8221;Our customers will benefit from access to more services, enhanced customer experiences, increased loyalty benefits, and more comprehensive solutions tailored to their needs. Together we are setting the stage for a new era of travel marked by greater connectivity, innovation and value.&#8221;
Fabricio Bloisi, CEO of Prosus Group, added, &#8220;Despegar adds significantly to our strong ecosystem in Latin America, a market with amazing growth potential. Today&#8217;s announcement is about opportunity and growth &#8211; alone Despegar is a successful business with great fundamentals and a motivated management team; together, both Despegar and Prosus will make it even stronger.&#8221;
Investors can gain exposure to the DESP via Amplify ETF Trust Amplify Travel Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AWAY#NYSE">AWAY</a>) and Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>).
Price Action: DESP shares are up 32.80% at $19.45 premarket at the last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/42643303" target="_blank" rel="noreferrer noopener">US Stocks To Open Higher As Wall Street Expects &#8216;Santa Rally&#8217; In Shortened Trading Week: MicroStrategy, Palantir, Qualcomm Among Stocks In Focus</a></li>
</ul>
Photo by Capri23auto from Pixabay

Despegar To Be Acquired By Prosus For $1.7 Billion in All Cash Deal

- Reuters Citing YPF Source&nbsp;

VIST

YPF Will Look For $1.5B In Foreign Financing And $500M In Local Financing In Q2 2025 For Vaca Muerta Sur Project; Wants To Add Shell, Chevron, Vista, Pampa Energy And Pan American Energy As Partners For Its Vaca Muerta Sur Project; Expects Total Investment Of $3B For Vaca Muerta Sur Oil Pipeline

Shares of US-listed Argentine stocks are trading higher on continued strength after the nation received a credit upgrade from Fitch over the weekend.

Shares of US-listed Argentine stocks are trading higher after Donald Trump's presidential victory.

BIOX

Shares of US-listed Argentine stocks are trading higher after Banco de la Nacion, the country's largest bank, stated it wants to issue debt and return to international capital markets for the first time in 30 years.

Contracts

STLA

Stellantis Head For South America Says Firm To Launch Two Hybrid-Flex Vehicles In Brazil This Year; Announces Investment Of $385M In Its Argentinian Complex In Cordoba

YPF Sociedad Anonima (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YPF#NYSE">YPF</a>) shares are trading higher after the company announced cash <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">tender offers for securities up to $500 million.</a>
YPF has launched a cash tender offer to buy up to $500 million in aggregate principal amount of its 8.500% Class XXXIX notes due July 28, 2025, with an outstanding principal of $1.131 billion, and its 6.950% Class LIII notes due July 21, 2027, which have an outstanding principal of $809.303 million, per a <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/904851/000119312524210118/d876062d6k.htm" rel="noreferrer noopener">filing</a>.
This offer is subject to the Acceptance Priority Level detailed in the Offer to Purchase dated August 29, 2024. The tender offer is subject to various conditions outlined in the Offer to Purchase, the company said.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40532734/teslas-chinese-rival-byd-to-reveal-production-model-of-ocean-m-focusing-young-drivers" rel="noreferrer noopener">Tesla's Chinese Rival BYD To Reveal Production Model Of Ocean-M Focusing Young Drivers</a>
The Tender Offers are set to expire at 5:00 p.m. New York City time (6:00 p.m. Buenos Aires time) on Friday, September 27, 2024, unless extended or terminated earlier.
Also, Jefferies analyst Alejandro Demichelis upgraded YPF from Hold to Buy and raised the price target from&nbsp;$23.5&nbsp;to&nbsp;$30.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, YPF stock has gained over 62% in the past year. Investors can gain exposure to the stock via&nbsp;Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) and AdvisorShares Dorsey Wright ADR ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AADR#NASDAQ">AADR</a>).
Price Action: YPF shares are trading higher by 5.4% to $23.67 at last check Friday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Analyst Color

Upgrades

Price Target

Offerings

Analyst Ratings

General

AADR

Why Energy Company YPF Shares Are Gaining Today

Argentina Mining Secretary Says Mining Exports To Double To $10B In 2027 From $4B This Year On Lithium, Copper

Market Summary

AVGO

Benzinga Market Summary: PPI Readings Come In Below Expectations, Broadcom Shares Rise On Earnings, Argentina Stocks Gain On Approval Of Reforms Package

Editor&#8217;s note: This story has been updated with additional details.
Multiple stocks on the New York Stock Exchange experienced sudden trading halts after 9:40 a.m. ET Monday <a href="https://www.benzinga.com/topic/nyse">due to technical issues.</a>
The unexpected pauses in trading were triggered by a technical issue categorized under the &#8220;Limit Up/Limit Down&#8221; code, which is typically used to curb excessive volatility in a single stock.
The NYSE said it is investigating the reported technical issue. &#8220;Additional information will follow as soon as possible,&#8221; NYSE-owner Intercontinental Exchange Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) stated. 
Among the largest companies halted on Monday were Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) at 9:50:52 a.m. ET and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) at 9:44:58 a.m. ET. 
Chipotle shares experienced a sudden and dramatic decline of 66%, plummeting from $3,097 to $1,047. The stock resumed trading at 10:21 a.m.
At 9:49 a.m., ET shares of Berkshire Hathaway faced an even more severe downturn, nearly being wiped out with a staggering 99.7% collapse from $622,375 to $185.10. As of this update, trading has not yet resumed for the company owned by Warren Buffett.
Monday&#8217;s technical malfunctions on the NYSE occur just one week after U.S. stock exchanges transitioned to a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39039375/t-1-settlement-era-on-trading-begins-what-you-need-to-know">one-day settlement period.</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1024x500.png" alt="" class="wp-image-368052" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03101722/image-4.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1024x500.png" alt="" class="wp-image-368067" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/03102012/image-5.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Other Stocks Impacted </h3>
Other stocks affected by the sudden technical glitch on the New York Stock Exchange in Monday trading include:
<ul>
<li>Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>)</li>
<li>Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</li>
<li>Franco-Nevada Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>)</li>
<li>Essex Property Trust, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>)</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>)</li>
<li>Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>)</li>
<li>Ault Disruptive Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADRT#NYSE">ADRT</a>)</li>
<li>Nouveau Monde Graphite Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMG#NYSE">NMG</a>)</li>
<li>Bowhead Specialty Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOW#NYSE">BOW</a>)</li>
<li>Banco Santander-Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSAC#NYSE">BSAC</a>)</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>)</li>
<li>Xperi Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPER#NYSE">XPER</a>)</li>
<li>ICL Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICL#NYSE">ICL</a>)</li>
<li>Telefonica, S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEF#NYSE">TEF</a>)</li>
<li>Trinity Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRN#NYSE">TRN</a>)</li>
</ul>
The technical fallout also impacted trading on the following NYSE-Arca listed exchange traded funds:
<ul>
<li>Direxion Daily Aerospace &amp; Defense Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFEN#NYSE">DFEN</a>)</li>
<li>MAX S&amp;P 500 4x Leveraged ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPRO#NYSE">UPRO</a>)</li>
<li>JPMorgan Core Plus Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCPB#NYSE">JCPB</a>)</li>
<li>Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>)</li>
<li>Nationwide Nasdaq-100 Risk-Managed Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUSI#NYSE">NUSI</a>)</li>
<li>SPDR S&amp;P Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>)</li>
</ul>
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Photo via Shutterstock.

ADRT

BSAC

DFEN

DXYZ

GOLD

JCPB

NUSI

UPRO

XPER

Berkshire Hathaway, Chipotle, More NYSE Stocks Hit With Trading Halts Triggered By Technical Issues (UPDATED)

&#8220;I recommend investing in Argentina&#8221; — a few words from Elon Musk on social media platform X bolstered Argentine assets to new heights, underscoring investor confidence under new <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38659381/elon-musk-meets-bitcoin-supporting-president-javier-milei-again-i-recommend-investing-in-a">President Javier Milei&#8217;s administration.</a>
The Global X MSCI Argentine ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>), which tracks the performance of leading Argentine stocks, registered over a 1% increase shortly after markets opened in New York. 
This marks the ETF&#8217;s eighth gain in nine sessions, culminating in a 54% rally since Milei&#8217;s election victory in November 2023.
The bullish sentiment extended to Argentine fixed-income assets, particularly dollar-denominated bonds. Notes maturing in July 2030 spiked to 55 cents on the dollar, more than doubling their value since the election of the libertarian President, who many now regard as having a Midas touch on the nation&#8217;s financial market.
Investor optimism has been particularly robust within the banking sector. Shares in major Argentine banks like Banco Macro S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>), Grupo Financiero Galicia S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GGAL#NASDAQ">GGAL</a>), and Banco BBVA Argentina S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAR#NYSE">BAR</a>) soaring by more than 100% since the start of the year.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I recommend investing in Argentina <a href="https://t.co/DIrcf8TsLN">https://t.co/DIrcf8TsLN</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1787654457339342932?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Chart: Milei&#8217;s Midas Touch On Argentine Stocks, Banks
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-1024x495.png" alt="" class="wp-image-326127" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/07094737/image-43.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Argentina&#8217;s Central Bank Slashes Rates As Monthly Inflation</h3>
Earlier this month, Argentina&#8217;s central bank made a significant move by cutting the benchmark interest rate by 10 percentage points to 50%. 
This adjustment, the fifth since December and third in three weeks, was prompted by a noticeable slowdown in monthly inflation. 
At the end of 2023, the monthly inflation rate in Argentina surged to 25%, indicating a perilous path towards hyperinflation. 
March&#8217;s inflation data revealed a slowdown to 11% month-over-month, lower than the anticipated 12.1%.
In addition, Milei&#8217;s administration bolstered the country&#8217;s fiscal measures. In the first quarter of the year, Argentina achieved the first budget surplus in 16 years. 
&#8220;If the state does not spend more than it collects and does not issue (money), there is no inflation. This is not magic,&#8221; Milei stated.
<h3 class="wp-block-heading">IMF Commends Argentine Efforts</h3>
The International Monetary Fund (IMF) has praised Argentina for its &#8220;ambitious stabilization plan,&#8221; noting the country&#8217;s progress in restoring macroeconomic stability, as Julie Kozack, head of the Communications Department at the IMF, said in April. 
With improved fiscal management, rebuilding of international reserves, and better-than-expected inflation control, Argentina is seeing positive changes in key economic indicators.
In February, the IMF approved an immediate disbursement of $4.7 billion to Argentina, part of a larger effort to support the country&#8217;s economic reforms. This brings the total IMF disbursements under the current arrangement to approximately $40.6 billion.
Looking ahead, the Argentine government&#8217;s commitment to fiscal discipline and inflation control sets a promising course for continued economic recovery. With international support and robust policy measures, Argentine assets could continue to witness the continuation of their bullish momentum. 
Now Read: <a href="https://www.benzinga.com/news/24/05/38669520/elon-musk-is-all-hearts-for-jack-dorsey-calling-x-freedom-technology-after-quitting-twitter-killer-b">Elon Musk Is All Hearts For Jack Dorsey Calling X &#8216;Freedom Technology&#8217; After Quitting Twitter-Killer Bluesky</a>
Image: Shutterstock

Social Media

Bonds

Econ #s

Elon Musk Endorses Argentine Stocks; Bond, ETF Rally Persists In Wake Of Milei's Election Victory

TSLA

Argentina Presidential Spokesperson Says Milei To Visit Tesla Factory In U.S., Meet Elon Musk This Week

Argentine stocks surged in Tuesday&#8217;s session following lower-than-predicted February inflation figures and an unexpected move by the central bank, which slashed interest rates by 20 percentage points down to <a href="https://www.benzinga.com/topic/argentina">80% a day earlier.</a>
The Global X MSCI Argentine ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>), which tracks the performance of an index of Argentine stocks, closed 1.3% higher, snapping a three-day losing streak.
Government data published on Tuesday revealed that in February, consumer prices experienced a 13.2% rise from the preceding month, which was lower than the 15% gain anticipated by economists. 
On an annual basis, price pressures escalated by 276.2%, marking the sharpest increase since Argentina emerged from hyperinflation in the early 1990s.
According to a government statement, the monthly inflation slowdown is the result of the fiscal discipline implemented by the new administration.
President Milei remarked that the work of Finance Minister Luis Caputo &#8220;is remarkable,&#8221; as reported by local newspaper <a href="https://www.lanacion.com.ar/politica/javier-milei-celebro-el-dato-de-la-inflacion-el-trabajo-de-caputo-es-formidable-nid12032024/">La Nacion</a>. 
In the same vein, he asserted that he &#8220;won&#8217;t yield even an inch&#8221; in his fiscal adjustment plan. 
&#8220;We are going to return to respecting the zero deficit in February, despite a drop in revenue. We have continued with the plan of the chainsaw and the blender; the decrease in public spending is 36%. We won&#8217;t give up even a millimeter,&#8221; Milei stated.
Prior to the inflation data, the Central Bank of the Republic of Argentina (BCRA) slashed interest rates from 100% to 80%, bringing the cost of money to the lowest level in nearly a year. 
Central Bank President Santiago Bausili highlighted that &#8220;a pronounced slowdown in inflation is observed,&#8221; despite the strong statistical drag that inflation brings to its monthly averages.
Policymakers observed a reduced impact compared to initial expectations from December&#8217;s currency intervention on the inflation outcomes.
In the coming months, the authorities of the BCRA will focus on the evolution of core inflation, in view of the announced adjustments to regulated tariffs for public services. 
Milei Contemplates Dollar&#8217;s Inclusion as Legal Tender Alongside the Peso
Caputo stated Tuesday at the AmCham Summit 2024 in Buenos Aires that lowering inflation is the government&#8217;s primary objective. 
He also remarked on Milei&#8217;s ongoing pursuit of a &#8220;competition of currencies,&#8221; envisioning the inclusion of the U.S. dollar as legal tender. 
He highlighted that the currency competition scheme aims to swiftly collapse inflation. This came after he celebrated the government&#8217;s fiscal outcome. 
The International Monetary Fund (IMF) is receptive to discussing a new program to replace Argentina&#8217;s existing $44 billion program, potentially involving additional funding, Caputo says.
Read Now: <a href="https://www.benzinga.com/markets/penny-stocks/24/02/37155750/argentina-is-on-its-way-to-dollarization-and-heres-how-gaucho-group-holdings-nasdaq-vino-is-">Argentina Is On Its Way To Dollarization And Here&#8217;s How Gaucho Group Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINO#NASDAQ">VINO</a>) Is Set Up To Capitalize</a>
Image: Wikimedia Commons

Government

VINO

Argentine Stocks Surge As Central Bank Slashes Rates By 20% Following Inflation Slowdown: Milei Pushes For Dollar Legal Tender

Argentine stocks experienced a surge on Thursday following rumors that the country is in discussions with the International Monetary Fund (IMF) <a href="https://www.benzinga.com/topic/argentina">for a new program.</a>
This initiative aims to secure additional funding, accelerating Argentina&#8217;s departure from its stringent capital controls, as reported by <a href="https://www.bloomberg.com/news/articles/2024-02-29/argentina-is-said-to-be-negotiating-new-aid-program-with-imf?sref=TBDibEcD">Bloomberg</a> citing a senior government official, who preferred to remain anonymous. 
The official revealed that the IMF is advocating for a quicker depreciation of the Argentinian currency under its &#8220;crawling peg&#8221; system. Additionally, the Fund is urging Argentina to maintain its interest rates above the current inflation rate, which has alarmingly reached approximately 250%.
<h3 class="wp-block-heading">Milei Assures Exit From Capital Controls By Mid Year</h3>
In an <a href="http://ft.com/content/4d789837-0408-4513-a0d7-0d6ce5a8c740">interview </a>with the Financial Times, Argentina&#8217;s newly-elected President Javier Milei conveyed his determination to advance reforms without the necessity for congressional approval, especially post-2025.
Milei&#8217;s strategy, as he states, aligns with academic recommendations and aims to eliminate dollar exchange controls by mid-year, potentially marking a &#8220;turning point&#8221; for Argentina. 
Despite potential challenges, Milei dismissed the likelihood of social unrest during his tenure, except in cases of foreign infiltration.
President Milei&#8217;s administration is keen on removing capital controls, with the IMF&#8217;s support being viewed as a crucial accelerator in this process. Milei believes that cleansing the central bank will pave the way for lifting exchange restrictions, a milestone the IMF estimates could be achieved by mid-year. 
However, Argentina&#8217;s economic landscape is under severe stress, with inflation spiraling uncontrollably. The country recorded a staggering 250% increase in its consumer price index in January 2024, marking the most significant inflationary jump in 33 years. 
Amid these challenges, Argentina&#8217;s ongoing financial obligations to the IMF loom large, with an outstanding debt of approximately $44 billion from a previous arrangement that failed to stay on course.
<h3 class="wp-block-heading">Market Response</h3>
The anticipation of a fresh agreement with the IMF led to a notable uptick in Argentine stocks on Thursday. The Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) saw a 2.2% increase, with its principal holding, MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>), experiencing a 2% rise during early morning trading hours in New York. 
Banco Macro S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) emerged as the top gainer among Argentine&#8217;s American Deposit Receipts (ADRs), marking a surge of over 6%.
Since Milei&#8217;s electoral win, Argentine stocks have soared by nearly 20%. However, the momentum has plateaued over the last three months, as Milei administration&#8217;s reform initiatives have encountered significant resistance within the Argentine Congress, posing challenges to the government&#8217;s ability to implement its proposed changes swiftly.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29105821/newplot-10-1.png" alt="" class="wp-image-234424" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29105821/newplot-10-1.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/29105821/newplot-10-1-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
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Regulations

Rumors

Argentine Stocks Rebound As President Milei Eyes Potential New IMF Deal, Exit From Capital Controls

With Milei's Economic Reforms, Gaucho Holdings Eyes Growth In Argentina's Markets

BBVA

Screenshot 2024-11-05 at 12.24.27 AM

With Milei&#39;s Economic Reforms, Gaucho Holdings Eyes Growth In Argentina&#39;s Markets

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Global X MSCI Argentina ETF

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Global X MSCI Argentina ETF (ARCA:ARGT), Informe de interés en corto

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