2023-11-27 14:54:03
(Photo: The Canadian Press)
MARKET REVIEWS. Global markets were mostly lower Monday as investors awaited updates on consumer spending and inflation in the United States and other countries.
Stock market indices at 7:30 a.m.
In Toronto, the S&P/TSX rose 154.76 points (+0.80%) to 19,590.74 points.
In New York, the S&P 500 gained 25.19 points (+0.59%) to 4299.70 points.
The Nasdaq advances by 108.43 points (+0.83%) to 13,201.28 points.
The DOW increased by 116.07 points (+0.35%) to 33,666.34 points.
The loonie rose by US$0.0013 (+0.18%) to US$0.7423.
Oil decreased by US$1.87 (-2.00%) to US$91.81.
L’or perd 9,20$US (-0,49%) à 1881,70$US.
Bitcoin advances by US$759.28 (+2.89%) to US$27,018.29.
The CAC 40 French fell slightly by 0.1% at the start of the session, while the German DAX fell by 0.2%. For its part, London lost 0.3%.
In New York, before the markets opened, the average Dow Jones industrial stocks and the broader index S&P 500 each decreased by 0.1%.
In Asian markets, the Japanese benchmark index Nikkei 225 fell 0.5%. Hong Kong fell by 0.2%, while Shanghai lost 0.3%.
The Kospi of South Korea lost less than 0.1%, while Sydney lost 0.8%.
On the New York Commodity Exchange, the brut American benchmark fell 43 cents to US$75.11 a barrel.
The context
On the agenda this week are consumer confidence figures in the United States, retail sales in Japan and manufacturing activity figures in these two countries, as well as in China.
The market consensus calls for “a perfect scenario in which the slowdown in inflation allows a reduction in key rates before mid-2024, without growth slowing down significantly,” comments Xavier Chapard, member of the strategy team. of La Banque Postale AM.
Since mid-November, the markets have been reassured by the trajectory of American inflation, which, in October, stood at 3.2% over one year compared to 3.7% in September.
This slowdown is seen as good news for investors, in the wake of the monetary policy carried out by the American central bank (Fed), which raised its rates to a range of 5.25 to 5.50%, their highest level for 22 years, with the aim of reducing inflation.
Driven by this positive data and the prospect of lower rates to come in 2024, “European markets seem poised to experience their best month since January,” comments Michael Hewson, analyst at CMC Markets.
And “as long as investors consider that a reduction in key rates will take place during the first half of 2024, everything suggests that the upward trend on the stock market will continue,” underlines Christopher Dembik, investment strategy advisor at Pictet .
Green light for Valneva
The European Medicines Agency (EMA) has given a favorable opinion on the marketing of a vaccine against chikungunya from Valneva (+1.27% in Paris), already approved on November 10 in the United States, according to a press release published Monday by the manufacturer.
Julius Baer responds to rumors
Faced with rumors surrounding the struggling Austrian group Signa, the Swiss bank Julius Baer (-1.78% in Zurich) admits having granted loans, which expose it to “a European conglomerate” to the tune of 606 million Swiss francs ( 621 million euros), without however naming it.
Oil down before OPEC+
Oil prices were falling as the humanitarian truce between Israel and Hamas calmed prices and investors awaited the OPEC+ meeting this week.
Around 7:20 a.m., a barrel of Brent from the North Sea, for delivery in January, lost 1.15% to 79.65 US dollars ($US).
Its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery the same month, fell 1.23% to US$74.61.
On the foreign exchange market, theeuro was up slightly (+0.15%) against the dollar, at US$1.0955 and the British currency gained 0.32% against the greenback, at US$1.2643.
The bitcoin fell 1.49% to US$37,065.
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