Mexico City, March 1, 2026, 02:54 CST — The market has closed.
- Mexican equities resume trading Monday, fresh off another solid month for the S&P/BMV IPC.
- Business confidence figures, PMI readings, and fixed investment numbers are at the top of the local economic agenda.
- The key global risk for Mexico assets is Friday’s U.S. jobs report.
Mexico’s main stock index kicks off the week hovering close to recent highs, riding a four-month stretch of gains. For another leg up, the market may be waiting on the data to deliver.
The S&P/BMV IPC finished Friday at 71,405.77, nudging just 0.02% higher for the session, and closing out the month roughly 5.6% above where it started. Televisa dropped 6.2% after earnings, while miner Peñoles surged nearly 5%. That left sentiment looking divided as February drew to a close. Banamex pointed to a consolidation period and warned of further choppy action ahead for the index. Jornada
Monex strategists Janneth Quiroz, J. Roberto Solano and Brian Rodríguez, writing in a February 27 monthly note, flagged that the IPC notched fresh record highs in February. Wall Street, meanwhile, saw turbulence: the Nasdaq shed 3.4% for the month; the S&P 500 slipped 0.9%. The strategists described “a more constructive tone” in the index, highlighting sector revaluations in metals and telecoms.
Gabriela Siller, economist at Banco Base, pointed out that the IPC notched its strongest monthly jump since September, with most leading stocks finishing February higher. She highlighted heavyweight América Móvil’s gains, plus moves from big names like Vesta, Alsea, Grupo Carso, and Grupo México. As for the peso, it slipped 0.23% Friday to 17.23 per dollar, introducing a new factor for cross-border flows at March’s outset. El Financiero
Mexico’s data slate kicks off early this week. Monday brings both business confidence figures and the S&P Global manufacturing PMI, which tracks factory activity. On Tuesday, the central bank is set to release its weekly foreign exchange reserves. Then Thursday wraps up with gross fixed investment numbers, a key measure of capital spending. Trading Economics
Beyond Mexico, attention shifts to the U.S. data slate. Monday, traders watch for manufacturing surveys. ADP employment numbers and services readings drop Wednesday, alongside the Fed’s Beige Book. Thursday’s highlight: weekly jobless claims. “We estimate that nonfarm payroll employment rose just 25k in February,” Barclays chief U.S. economist Marc Giannoni wrote. Kiplinger
The IPC now faces a simple question: can February’s top performers keep leading the pack? Much of the recent gains came from telecom and mining stocks, which dominate the headlines. But it’s a double-edged sword—those names could stumble if metals lose steam or if rate expectations start to squeeze growth shares.
The risk is clear enough: if U.S. job numbers come in strong, traders could double down on “higher-for-longer” rates, pushing the dollar up and putting riskier bets under pressure. The Mexican peso tends to get knocked first, and when offshore investors start heading for the exits, local equities can get dragged down too.
Mexico traders are eyeing Televisa and other Friday laggards to see if they stabilize now that earnings are out of the headlines. Attention is also on whether market gains can break out from just the major large caps.
Friday, March 6 stands out: that’s when the February U.S. Employment Situation report lands. bls.gov
