couple Pauline Foret
(Reuters) – Wall Street is expected to rise on Friday while European stock markets fall mid-session at the end of this weekend disrupted by New Year’s celebrations.
Futures on New York indices signal an opening on Wall Street higher, indicating a gain of 0.24% for the Dow Jones, 0.34% for the Standard & Poor’s 500 and 0.34% for the Nasdaq.
In Paris, the CAC 40 lost 0.86% to 7,330.43 points around 12:51 GMT, weighed down by the decline in luxury values. In Frankfurt, the Dax fell by 0.37% and in London the FTSE 100 lost 0.09%.
The EuroStoxx 50 index fell by 0.55%, the FTSEurofirst 300 by 0.37% and the Stoxx 600 by 0.29%.
After a week marked by low trading volumes and disrupted by the closure of the main world stock exchanges for New Year celebrations, investors are preparing for a first full week of the year rich in indicators. The monthly report on American employment is expected next Friday while the “flash” report on inflation in the euro zone will be published on Tuesday.
In the meantime, both in Europe and on the other side of the Atlantic, the main indices are generally weakening under the pressure of bond yields, which are still flirting with peaks.
VALUES TO FOLLOW AT WALL STREET
US President Joe Biden has decided to block the planned takeover of the American steel group US Steel by its Japanese competitor Nippon Steel, a $14.9 billion operation, a source familiar with the matter said on Friday. US Steel shares lost 7.8% in pre-market trading.
Tesla announced on Friday that its sales in China had increased by 8.8% in 2024, reaching a record number of 657,000 vehicles, while its global deliveries fell for the first time, which sent Tesla shares tumbling. by 6.1% on Thursday.
VALUES IN EUROPE
In Europe, Tullow Oil gained 10.98%, allowing the British Footsie to limit its losses, after the group declared that it had been exempt from paying 320 million dollars (310.77 million euros) in taxes in Ghana.
ArcelorMittal lost 3.95% after Joe Biden decided to block the sale of US Steel to the Japanese group Nippon Steel.
Red lantern of the CAC 40, Kering dropped 4.6%, followed not far by LVMH (-2.5%) and Hermès (-1.9%). In Hainan, the Chinese island province where global luxury players have set up shop, tax-free spending fell 29.3% last year as a weak economy led to a sharp decline in the number of domestic visitors.
RATES US yields fall before the expected publication of the ISM manufacturing index in the United States, while remaining at particularly high levels.
The yield on ten-year Treasuries fell 3.2 basis points to 4.5430%, and two-year Treasuries fell 1.7 basis points to 4.2309%.
Across the Atlantic, yields rose after data released earlier in the day showed that Germany’s unemployment rate rose less than expected in December.
The yield on the ten-year German Bund gained 2.3 basis points to 2.3900%, the two-year 4.2 basis points to 2.1370%.
EXCHANGES The dollar weakened somewhat on Friday but is on track to end the week on a more than positive note, driven by the possibility that the American economy will continue to shine on the international scene and that key rates will remain high.
The greenback lost 0.41% against a basket of reference currencies.
The euro gained 0.32% to 1.0298 dollars.
OIL
Oil prices are stable after increasing drastically the previous session against a backdrop of economic recovery in China and falling temperatures on both sides of the Atlantic.
Brent lost 0.12% to $75.84 per barrel and American light crude (West Texas Intermediate, WTI) fell 0.08% to $73.08.
MAIN ECONOMIC INDICATORS ON THE AGENDA FOR JANUARY 3:
COUNTRY GMT INDICATOR PERIOD PREVIOUS CONSENSUS
USA 3:00 p.m. ISM manufacturing index December 48.4 48.4
(Written by Pauline Foret, edited by Blandine Hénault)
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