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Supreme Court on Tuesday upheld a ruling against the former president, who was sentenced to six years in prison and banned from holding public office for fraud, rejecting an appeal by the leader of the Peronist opposition."All investors fear a return to Kirchnerism. A future without Cristina.... clears the outlook," said Mariano Sardans of local financial firm FDI Gerenciadora de Patrimonios, citing high-spending, interventionist policies under the Peronists."The specter that always looms over investors is Kirchnerism and Argentina's falling back into policies of that nature."Current market-friendly libertarian President Javier Milei has been well received by investors, helping boost equities and bonds since he took office in late 2023, ushering in tough austerity and a "zero deficit" drive.Legislative elections in October are seen as a test of his popularity. A positive result in those ballots will help ensure the success of some of his investor-friendly reforms.Fernández, the government's strongest opposition figure, will now be barred from running for a seat she sought in Buenos Aires Province.Sovereign dollar bonds were trading slightly higher on the day while the benchmark S&P Merval stock index fell over 1% after rising more than 4% on Tuesday.Other analysts were more cautious, warning about tough economic challenges ahead, including rebuilding foreign exchange reserves."The impact on the market will most likely be limited, since the Supreme Court's ruling doesn't solve Argentina's macroeconomic problems," said Roberto Geretto, an economist at local firm Adcap.(Reporting by Walter Bianchi and Rodrigo Campos; additional reporting by Hernán Nessi; editing by Adam Jourdan and Ed Osmond)Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures5,956.00 -93.50 (-1.55%)Dow Futures42,387.00 -603.00 (-1.40%)Nasdaq Futures21,549.50 -383.00 (-1.75%)Russell 2000 Futures2,086.40 -54.80 (-2.56%)VIX18.02 +0.76 (+4.40%)Gold3,449.80 +47.40 (+1.39%)PortfolioSign in to access your portfolioSign inTop gainersMP MP Materials Corp. 29.20 +3.56 (+13.88%)ORCL Oracle Corporation 199.86 +23.48 (+13.31%)TAC TransAlta Corporation 11.41 +0.94 (+8.98%)GENI Genius Sports Limited 10.47 +0.81 (+8.39%)CRK Comstock Resources, Inc. 25.62 +1.68 (+7.02%)Top losersGME GameStop Corp. 22.14 -6.41 (-22.45%)TNXP Tonix Pharmaceuticals Holding Corp. 34.54 -3.18 (-8.43%)KNSA Kiniksa Pharmaceuticals International, plc 27.73 -2.49 (-8.24%)JOBY Joby Aviation, Inc. 8.87 -0.76 (-7.89%)QUBT Quantum Computing Inc. 17.51 -1.46 (-7.70%)Most activeGME GameStop Corp. 22.14 -6.41 (-22.45%)NVDA NVIDIA Corporation 145.00 +2.17 (+1.52%)TSLA Tesla, Inc. 319.11 -7.29 (-2.23%)RGTI Rigetti Computing, Inc. 12.10 -0.42 (-3.35%)SOFI SoFi Technologies, Inc. 14.90 -0.16 (-1.06%)Earnings eventsTrending tickersCL=F Crude Oil Jul 25 73.97 +5.93 (+8.72%)BA The Boeing Company 203.75 -10.25 (-4.79%)NQ=F Nasdaq 100 Jun 25 21,549.50 -383.00 (-1.75%)ES=F E-Mini S&P 500 Jun 25 5,956.00 -93.50 (-1.55%)YM=F Mini Dow Jones Indus.-$5 Jun 25 42,387.00 -603.00 (-1.40%)Top economic events