2,824,123S&P Merval · Wed Oct 7 close · −2.50%

DailyDrop.

ARS 1,517USD/ARS wholesale · Wed Oct 7 close · −0.20%
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, THU., OCT. 8, 2026No. 4 · Morning, 6:00 a.m. ART6 a.m. ART
S&P Merval2,824,123.00▼2.50%10/7USD/ARS1,517.00▼0.20%10/7S&P 5007,801.77▼0.22%10/7WTI$88.28▼1.30%10/7Gold$4,140.70▼1.11%10/7
Markets · ArgentinaPress ✓ 4 outlets · figures per Infobae, La Nación and Ámbito

The S&P Merval fell 2.5% and country risk climbed back to 586 points as global bonds came under pressure; the wholesale dollar closed at 1,517 pesos

After two sessions of euphoria over Brazil, the external backdrop turned against Argentina again: US interest rates rose and the market watched oil. The blue dollar rose 15 pesos, its biggest one-day jump in more than a month.

The S&P Merval lost 2.5% on Wednesday, October 7, and closed at 2,824,123 points, with banks among the hardest hit, according to Infobae. Country risk, which had fallen to 573, rose to 586 basis points after touching 600 in the morning, according to Infobae and Ámbito; La Nación describes it as a turnaround after two sessions of declines. The Bonares fell as much as 1.2% and the Globales as much as 1.1%, La Nación reported. El Cronista attributed the drop to higher US interest rates, greater risk aversion and local factors.

The wholesale dollar closed at 1,517 pesos, 3 pesos lower than on Tuesday, and the Central Bank bought US$45 million, according to Infobae. The blue rose 15 pesos, to 1,555, its biggest one-day jump in more than a month, according to Ámbito, which recorded the MEP at 1,537.92 pesos and the CCL at 1,608.61 pesos. El Cronista gave different figures, 1,536.90 pesos for the wholesale rate, which DailyDrop does not use. On Wall Street, the S&P 500 fell 0.22% to 7,801.77 and WTI dropped 1.30% to US$88.28; the analysts cited by Infobae also pointed to oil, a point we could not reconcile with that close.

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By the numbers
−2.5%S&P Merval, at 2,824,123 points
586country risk in basis points, after touching 600
+15 pesosblue dollar, at 1,555 pesos
Economy · IndecPress ✓ 4 outlets · Indec figures per Infobae, Perfil and La Nación

Industry rose 1.9% and construction 0.4% in August from July, but both remain below a year earlier: −3.2% and −4.4%

Indec reported on Wednesday, October 7, that manufacturing grew 1.9% in August from July in the seasonally adjusted series, but fell 3.2% year on year; over eight months it has accumulated a 2.7% decline, according to Infobae and Perfil. Eleven of the 16 divisions recorded declines year on year, the largest in machinery and equipment, at 24%. Construction, measured by the ISAC index, advanced 0.4% month on month and fell 4.4% year on year, although it is up 0.8% so far this year. Cement consumption fell 8.1% and asphalt 18.4% year on year.

El Cronista reported that Caputo highlighted the figure. The monthly rebound follows July’s sharp drop and does not make up for it. The World Bank cut its growth estimate to 2.1% for this year and the REM anticipates a decline in the third quarter, according to the media.

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Economy · LaborPress ✓ 3 outlets · report by the Argentina Grande Institute, per Perfil and iProfesional

A report estimates that 36,000 formal jobs were lost and 6,905 companies closed in the four months of the labor reform

The Argentina Grande Institute (IAG) published the first edition of its Labor Reform Monitor, according to Perfil and iProfesional. The report calculates that in the four months since the law took effect, about 36,000 formal jobs were lost and 6,905 companies closed. That makes 13 consecutive months of decline in formal private employment and 241,200 jobs lost since November 2023. The IAG puts informality at 45% of employed people, the highest value in the EPH series, and registered private-sector pay at a real loss of 3.7% compared with the January–November 2023 average.

It is a study by an institute that is critical of the government, and DailyDrop did not check the figures against SIPA or Indec. El Cronista recalled that President Milei highlighted the creation of hundreds of thousands of informal jobs and the drop in state employment. September’s official data may help test the report.

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World · EnergyPress ✓ 3 outlets · facts per UKMTO, via Infobae and Perfil

An oil tanker was hit by several projectiles off Qatar; at least eight ships have been attacked in recent days

The British agency UKMTO reported on Wednesday, October 7, that a tanker was hit by “several projectiles” about 51 nautical miles north of Madinat ash Shamal, in Qatar, with casualties not specified, according to Infobae. Neither the agency nor the sources indicated the origin of the attack or the ship’s flag. EFE reported that projectiles and drones of unknown origin have hit at least eight oil tankers in recent days and that most of the attacks occur on the Omani side of the Strait of Hormuz.

WTI closed at US$88.28, down 1.30%, and gold at US$4,140.7. Perfil and Bloomberg reported that Iran stepped up attacks on tankers amid the rebound in crude flows; DailyDrop could not verify that attribution with a second independent source. For Argentina, expensive oil makes fuel costlier, although the country exports energy.

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Politics · SenatePress ✓ 2 outlets · per El Cronista and Ámbito

Bullrich announced she will vote against the nomination of prosecutor Susana Pernas, and the infighting with Karina Milei shows again

Senator Patricia Bullrich announced during the public hearing of the Senate Committee on Agreements on Wednesday, October 7, that she will vote against the nomination of prosecutor Susana Pernas, put forward by the Executive, according to El Cronista. The nomination will most likely go untreated and unsigned, according to the same outlet. Ámbito spoke of infighting in La Libertad Avanza, with Karina Milei “cornering” Bullrich in a key Senate committee.

Pro-government senators, according to El Cronista, attribute the push for the nomination more to Mahiques than to the Milei siblings. It is a sign of the differences between Bullrich and the president’s circle, which had already surfaced days earlier. DailyDrop did not see an official response.

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In brief
  • S&P Merval −2.5% at 2,824,123; country risk 586Infobae
  • Wholesale dollar 1,517 pesos; blue 1,555 (+15)Infobae, Ámbito
  • Industry +1.9% month on month and −3.2% year on year in AugustInfobae, Perfil
  • Construction +0.4% month on month and −4.4% year on yearInfobae, Perfil
  • S&P 500 7,801.77 (−0.22%); WTI US$88.28; gold US$4,140.7market data
  • Ibovespa −0.74% at 204,302 pointsInfobae
  • IAG report: 36,000 formal jobs lost in four monthsPerfil, iProfesional
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Unverified — what we could not confirm

“The labor reform destroyed 36,000 jobs.” It is an estimate by a critical institute (IAG) that has not been checked against official data (Perfil, iProfesional).
“The market plunged because of the university ruling.” The media attributed the drop to US rates and risk aversion (Infobae, El Cronista).
“Industry has already recovered.” It grew 1.9% month on month in August but remains 3.2% below a year earlier (Indec, Infobae, Perfil).

Influencer watch

  • Javier Milei, presidente de la Argentina Instagram · 10/7Milei shared an Instituto Cato post about corruption on his Instagram stories and added 'Lula thief', weeks before Brazil's runoff.

Statements as posted, not fact-checked.

Glossary · dotted words — economics, law, security and science terms explained in the context of the story. The list grows every day.
INSIDEThe S&P Merval fell 2.5% and country risk climbed back to 586 points as global bonds came under pressure; the wholesale dollar closed at 1,517 pesosMarkets · ArgentinaIndustry rose 1.9% and construction 0.4% in August from July, but both remain below a year earlier: −3.2% and −4.4%Economy · IndecA report estimates that 36,000 formal jobs were lost and 6,905 companies closed in the four months of the labor reformEconomy · LaborAn oil tanker was hit by several projectiles off Qatar; at least eight ships have been attacked in recent daysWorld · EnergyBullrich announced she will vote against the nomination of prosecutor Susana Pernas, and the infighting with Karina Milei shows againPolitics · Senate