The Paris stock market lost nearly 0.7% this morning, around 7,380 points, penalized by STMicro which fell by 3.6% and URW (-2.5%) in particular.
Across the Atlantic, Wall Street is preparing to experience a decisive week marked by the publication of quarterly results from several heavyweights in the American economy, which will set the tone for the sessions to come.
The major American banks will be in the spotlight for this first week of the results season, with publications from Citi, Goldman Sachs, JPMorgan and Wells Fargo scheduled for Wednesday, then those from Bank of America and Morgan Stanley the next day.
The comments from these leading financial institutions will provide investors with interesting reading regarding the current state of the economy, consumption and the economic outlook to expect in the United States.
According to FactSet, the profits of American companies making up the S&P 500 index should have increased on average by 11.7% year-on-year in the 4th quarter, their strongest increase since the end of 2021.
As noted last Friday with the solid US employment figures, good statistics are no longer enough to push the market higher because they are synonymous with less monetary easing.
The ‘season’ of results will therefore allow us to know whether the New York Stock Exchange can regain upward momentum, knowing that the S&P 500 is trading today at 21.5 times its earnings, well above its historical average at ten years (18.2).
The reopening of the results season will not, however, make us completely forget what is currently happening on the other side of the Atlantic, between uncertainties over the policies that Donald Trump will pursue, the resurgence of inflation and tensions on bond yields. .
US long-term rates reached new highs of more than one year on Friday in the wake of the latest employment report, which turned out to be much stronger than expected.
The results season also begins in a climate of growing commercial uncertainty one week before the inauguration of Donald Trump, who will officially become the 47th president of the United States next Monday.
During his campaign, he notably expressed the intention to tax Chinese goods at 60% and to tax goods from other countries at 10%-20%.
The implementation of lasting ‘universal’ customs duties would be a negative for stocks, particularly for retailers, car manufacturers, technology companies, semiconductor manufacturers and certain industrial groups.
In view of these uncertainties and valuations that have become less attractive, investors are wondering if the time has not come to take profits on American stocks, worried that a significant correction could occur in the months to come.
In a note published last week, Goldman Sachs strategists estimated at 30% the probability of a fall in world stock markets of at least 10% within three months and more than 20% within 12 months. .
In this context, gold is regaining some interest in the eyes of investors, which brings the yellow metal to levels close to its historical records reached more than two months ago.
Oil prices also confirm their upward trend, while the Biden administration decided on Friday to impose new sanctions on the Russian energy sector.
This morning, Brent gained another nearly 1.5% to $81.1 per barrel.
In French company news, bioMérieux announces the conclusion of an agreement to acquire SpinChip Diagnostics, a Norwegian company in which the French specialist in in vitro diagnostics has held a 20% minority stake since March 2024.
Sanofi indicates that the Chinese NMPA has approved its Sarclisa, in combination with pomalidomide and dexamethasone (Pd regimen) for the treatment of relapsed or refractory multiple myeloma in adults who have already received at least one prior treatment.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
