(CercleFinance.com) – The Paris stock market lost almost 0.5% this morning, around 7,390 pts, penalized by the decline in the luxury sector with notably -5% for Kering, -2.6% for Hermès and even -2.5% for LVMH.
As expected, the Fed reduced its main key interest rate by a quarter of a point last night, its second cut in less than two months, while refraining from providing too many clues as to its intentions for the coming years. month.
Its members, however, unanimously decided to reduce the main key rate, citing controlled inflation which is tending towards 2% and the need to prevent the risks of slowing growth, even if it ‘progresses at a sustained pace’ of their admission.
‘My base scenario remains the continuation of a rate cut of 25 points based by the committee at the end of the next meetings until a neutral rate is reached, located around 3%, during the ‘next summer,’ commented Michael Brown, strategist at Pepperstone.
As a result, the bullish rally continued last night on Wall Street, with a new deluge of absolute records, notably for the Nasdaq Composite which is getting closer and closer to the psychological bar of 20,000 points.
International stock markets should therefore maintain the momentum of recent days, born from Donald Trump’s victory in the American presidential election.
From the point of view of analysts, the favorable dynamics of Wall Street should resume, particularly with the prospect of more advantageous taxation for American companies.
‘In our opinion, Trump’s second term will be marked by corporate tax cuts, deregulation of the technology sector, the implementation of tariffs intended to stimulate the American industrial sector and reshoring, and policies of support for cryptocurrencies’, underlines Yan Taw Boon, manager at Neuberger Berman.
Donald Trump having expressed his intention to impose more flexible and light regulations on the sector, bitcoin set a new record above $76,000 last night and some already see it reaching the threshold of $100,000 in the near future. .
The fact that the S&P 500, the benchmark index for American managers, is within reach of the historic level of 6,000 points should also encourage investors to consider a new upward surge in the short term.
The day, however, looks set to be rather calm in terms of indicators, even if investors will take note of the Michigan consumer confidence index in the afternoon.
In view of the employment situation which remains solid across the Atlantic, inflation which tends to moderate and stock market indices moving at record levels, the morale of American households should logically remain well oriented.
In the bond compartment, the 10-year US T-Bonds fell by 4 points, to 4.29%, while the German Bund of the same maturity fell to 2.38%.
In London, the barrel of Brent settled below $75, while the euro lost 0.2% against the greenback, at $1.078/E.
