2023-12-22 13:58:00
(Photo: Getty Images)
MARKET REVIEWS.
Global markets are moving mostly calmly on Friday, on the eve of a long weekend, as the end of the year approaches, and just before the publication of the PCE inflation index in the United States. United.
Stock market indices at 8:30 a.m.
Futures contracts Dow Jones fell -87.00 points (-0.23%) to 37,669.00 points. S futures&P 500 advanced +1.50 points (+0.03%) to 4,798.25 points. Futures contracts Nasdaq rose by +3.00 points (+0.02%) to 16,959.50 points.
In London, the FTSE 100 rose by +2.78 points (+0.04%) to 7,697.51 points. In Paris, the CAC 40 increased by +4.28 points (+0.06%) to 7,575.68 points. In Frankfurt, the DAX gained +14.40 points (+0.09%) to 16,701.82 points.
In Asia, the Nikkei of Tokyo closed up +28.58 points (+0.09%) to 33,169.05 points. For his part, the Hang Seng of Hong Kong decreased by -280.72 points (-1.69%) to 16,340.41 points.
On the oil side, the price of a barrel of American WTI rose +US$0.66 (+0.89%) to US$74.55. The barrel of North Sea Brent advanced +US$0.58 (+0.73%) to US$79.97.
The context
This flattening contrasts with yesterday, marked by the optimism of the American markets thanks to a revised growth figure which confirms the slowdown of the economy in the United States, with the prospect of a rate cut by the American central bank (Fed).
“A slowing economy will allow the Federal Reserve (Fed) to loosen its grip on monetary policy, while avoiding recession if inflation declines and remains low, close to the Fed’s 2% target,” he said. Ipek Ozkardeskaya, analyst at Swissquote Bank.
In Asia, the Tokyo Stock Exchange ended very slightly up by 0.09%, thanks to the clear slowdown in Japanese inflation in November (2.5% over one year, compared to 2.9% in October).
Hong Kong was in the red, after China’s announcement of new restrictions on online games which caused Tencent to plunge by 12.35%, the Hang Seng index having closed with a loss of 1.69%. .
On Friday afternoon, investors will be particularly watching the publication in the United States of the PCE inflation index figure for November: this index is the Fed’s preferred barometer for measuring price increases.
“This is the last crucial piece of the Fed puzzle,” according to Ipek Ozkardeskaya, for whom “if the PCE index is as weak as expected, or even, ideally, weaker,” the market rise will continue.
On the bond market, interest rates on government loans fell slightly. The yield on the 10-year U.S. Treasury note stood at 3.85%, after finishing at 3.89% on Thursday.
The loss of Nike
Nike announced Thursday evening a plan of two billion dollars in savings as well as a downward revision of its annual sales forecasts. The sports giant saw uneven sales performance in the most recent quarter, up in China but down in the United States. A decline which is expected to continue, and which worries the markets.
The company’s stock lost more than 12% in electronic trading before the opening of Wall Street.
Oil rebounds slightly, bitcoin falls
After falling on Thursday following Angola’s announcement of its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), oil prices rebounded slightly on Friday, in a context still marked by tensions at sea Red.
The price of a barrel of North Sea Brent, for delivery in February, climbed 0.41%, to US$72.72. Its American equivalent, the West Texas Intermediate (WTI), expiring in January, gained 0.53%, to US$74.28.
On the foreign exchange market, the euro was close to balance against the greenback (+0.11%), at US$1.1024 per euro.
The bitcoin was down 0.9% at US$43,600.
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