Latin American stocks and currencies experienced mixed results on Friday, with Argentina outperforming its peers. Argentina's Merval index shot up 4.3% and hit a record high, set to log its best week ever following the election of Javier Milei as the country's president. Milei, who campaigned on closing the central bank, plans to dollarize the economy. This has led to assumptions that farmers will be more willing to sell their crops, potentially impacting prices over time.

Meanwhile, Brazil's Bovespa index slipped 0.8% after President Luiz Inacio Lula da Silva vetoed a bill that would have extended a payroll tax exemption to certain sectors until 2027. As a result, most of Bovespa's sub-sector indexes were in the red. However, Brazilian Finance Minister Fernando Haddad stated that the government would introduce measures to assist the sectors affected by the veto.

In terms of currencies, Colombia's peso was the strongest performer in the region, climbing 0.7%, while Mexico's peso rose 0.4% against the dollar. Mexico's economy also showed growth in the third quarter, exceeding preliminary estimates.

Investors and economists are closely watching the actions of Argentina's President-elect Milei and eagerly anticipating any economic policy announcements and his appointment of the next finance minister. The success of Milei's economic plan, as well as favorable weather conditions for Argentina's agricultural sector, will be crucial in stabilizing the country's economy.