The New York Stock Exchange should start rising on Friday morning following the publication of a PCE price index that is fully in line with expectations, which reassures about the evolution of inflation.
Half an hour before the opening, ‘futures’ contracts on the main New York indices advanced from 0.1% to 0.2%, announcing a positive opening for this last session of June and the first half.
The Commerce Department announced earlier in the morning that the ‘PCE’ consumer price index, the Federal Reserve’s preferred measure of inflation, rose just 0.1% in May.
Core PCE inflation, which excludes volatile items such as energy and food, also showed a very limited increase of 0.1%.
These figures – which point to a continuation of the disinflation movement – have reinforced the prospect of a first rate cut by the Fed in September, the probability of which is still assessed at 59.5% by investors.
On the bond market, the yield on ten-year Treasuries – which had already been on a downward slope in recent days – fell further to fall below 4.27%.
Business life and economic news also drive the rating.
In terms of results, Nike is expected to be down 15% at the opening while the world’s leading manufacturer of sporting goods reported disappointing sales over the past quarter and delivered objectives considered prudent.
When it comes to politics, investors are trying to gauge the implications of the first debate between Joe Biden and Donald Trump, from which the Republican candidate appears to have emerged victorious.
According to a CNN poll conducted overnight, Donald Trump has largely won this first televised duel in view of the November election, with 67% of viewers giving him victory against 33% for the outgoing president, considered tired and confused.
On the oil front, oil prices are still rising, heading towards a third consecutive week of growth.
The barrel of light Texas crude (WTI) thus managed to rise above 82 dollars to return to contact with the highest levels since the end of April.
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