The New York Stock Exchange (NYSE) in New York, United States
couple Pauline Foret
Wall Street is expected to rise as are the European stock markets which are advancing mid-session, benefiting from a slight easing of bond yields while awaiting several American macroeconomic indicators.
New York index futures signal Wall Street opening in the green, indicating an increase of 0.32% for the Dow Jones, 0.41% for the Standard & Poor's-500 and 0.54% for the Nasdaq. In Paris, the CAC 40 gained 1.09% to 7,489.65 points around 11:35 GMT. In Frankfurt, the Dax rose by 0.75% and in London, the FTSE 100 rose by 0.08%.
The EuroStoxx 50 index is up 1.02%, the FTSEurofirst 300 is up 0.56% and the Stoxx 600 is up 0.54%.
The markets are catching their breath somewhat after a series of difficult sessions while the surge in bond yields seems to be calming down on both sides of the Atlantic.
The frantic sell-off in US bonds that began at the start of the month was paused over the last 24 hours, allowing equity markets to regain some composure.
Investors are also eagerly awaiting the publication, today and tomorrow, of the producer price indices (PPI) as well as the consumer prices (CPI) in the United States, indicators favored by the Federal Reserve which could give more clues on the monetary policy that the central bank will adopt in 2025.
Economists expect an increase of 3.4% in producer prices and 2.9% in consumer prices year-on-year for the month of December. Any outcome that deviates from this consensus could destabilize markets again.
The stabilization of oil prices, which had panicked after the imposition of new sanctions on Russian natural resources, should also allow the markets to experience a little respite this Tuesday before the publication of indicators and the launch of the oil season. corporate results with major US banks.
In Europe, the British Footsie is struggling to catch up with the rise in other indices, weighed down in particular by the fall of BP and JD Sports. VALUES TO FOLLOW AT WALL STREET
Chinese companies listed in the United States are climbing before the bell after Beijing's promises of increased support for their market. Among the largest movements, we find UP FINTECH (+6.6%), BILIBILI (+4.2%), XPENG (+8.9%), JD.COM (+4.8%) and LI AUTO (+4.2%).
VALUES IN EUROPE
Amundi takes 4.51% while according to the daily Il Messaggero, Credit Agricole (+2.91%) should decide by May if it wants Unicredit (+1.35%) to extend its partnership contract with Amundi . BP lost 2.74% after announcing that the drop in refining margins would reduce its fourth quarter profit by 100 to 300 million dollars (97.47 to 292.40 million euros).
JD Sports Fashion plunges 8.49% after a warning on annual profit in a market presented by the sporting goods distributor as “difficult”.
RATE
Bond yields are stabilizing somewhat after their recent surge pending US macroeconomic indicators.
The yield on ten-year Treasuries fell by 1.9 bps to 4.7862%, and two-year Treasuries fell by 1.2 bps to 4.3900%.
The ten-year German Bund yield gained 1.2 bps to 2.6040% while the two-year yield fell 0.1 bps to 2.2920%. The British 30-year Gilt, which reached its highest level in 27 years on Monday, lost 0.8 bp to 5.4320%.
CHANGES The dollar continues to flirt with highs on Tuesday as investors give up hope that the cycle of rate cuts started in 2024 by the Federal Reserve will continue into 2025.
The greenback nevertheless lost 0.34% against a basket of reference currencies while awaiting indications on the state of health of the American economy.
The euro gained 0.12% to $1.0256 while the pound sterling lost 0.15% against the dollar and 0.22% against the euro amid concerns about the British government's finances.
OIL
The recent surge in oil prices appeared to be calming on Tuesday although investors continued to focus their attention on the impact that new US sanctions on Russian oil will have on two of its main customers, China and India.
Brent lost 0.53% to $80.58 per barrel and American light crude (West Texas Intermediate, WTI) fell 0.55% to $78.39.
(Some data may have a slight lag)
(Written by Pauline Foret, edited by Augustin Turpin)
