A trader works at CMC Markets in the City of London
by Pauline Foret and Mara Vilcu
Wall Street is expected to fall on Friday, the day after a non-working session, while the European stock markets are trading in a mixed order, with caution prevailing before the publication of the American employment report.
Futures on New York indices signal an opening on Wall Street down 0.14% for the Dow Jones, 0.24% for the Standard & Poor’s-500 and 0.3% for the Nasdaq.
In Paris, the CAC 40 gained 0.23% to 7,507.71 points around 12:43 GMT. In Frankfurt, the Dax advanced by 0.3% while in London, the FTSE 100 lost 0.42%.
The EuroStoxx 50 index is up 0.14% while the FTSEurofirst 300 is down 0.11% and the Stoxx 600 is down 0.13%.
The highly anticipated US employment report will be released at 1:30 p.m. GMT. Analysts expect it to indicate the creation of 160,000 jobs in December and a stable unemployment rate at 4.2%.
Higher figures could accelerate the rise in US bond yields and strengthen the dollar, putting further pressure on other struggling currencies such as the euro or sterling.
The ten-year yield on Treasury bills is getting closer and closer to the threshold of 4.739%, a level which could propel it towards the 5% mark which has not been observed since 2007.
In Europe, tensions remain high on British assets amid concerns about the country’s economy and its public finances.
VALUES TO FOLLOW AT WALL STREET
Joe Biden’s administration wants to impose new restrictions on exports of chips used for artificial intelligence, measures which could be announced as early as Friday, according to press reports. NVIDIA loses 1.1% before the opening.
Delta Air Lines said Friday it expects 2025 to be the most profitable year in its 100-year history, thanks to strong demand for its “premium” tickets and improved pricing power. of the sector.
VALUES IN EUROPE
-In Paris, Ubisoft lost 4.62% after announcing the postponement of the last game in its Assassin’s Creed franchise and the lowering of its financial objectives.
Ambu A/S soars 13.52%, climbing to the top of the Stoxx 600 after publishing its preliminary results for the first quarter and raising its annual outlook.
RATE
After Wall Street closed Thursday for former President Jimmy Carter’s funeral, Treasury yields remain high ahead of the jobs report.
The yield on the ten-year Treasury increased by 1.7 bps to 4.6977%, while that of the two-year security increased by 2.7 bps to 4.2890%.
In Europe, the German ten-year yield follows suit, strengthening by 2.8 bp to 2.5590% and that of the two-year rate by 2.6 bp to 2.2560%.
CHANGES
The dollar is stable but still flirting with more than two-year highs, supported by high bond yields and expectations of another round of strong U.S. jobs numbers.
The pound sterling, weighed down by concerns about the British economy, lost 0.11% against the dollar and 0.02% against the euro.
OIL
Oil prices are climbing and on track for a third consecutive week of gains as traders focus on the possibility that supply will be disrupted by new sanctions against Russia and Iran.
Brent rose 2.94% to $79.18 per barrel and American light crude (West Texas Intermediate, WTI) jumped 3.02% to $76.15.
(Written by Pauline Foret and Mara Vilcu, edited by Blandine Hénault)
