2023-10-23 14:41:13
(Photo: The Canadian Press)
MARKET REVIEWS. Global markets were in decline Monday morning, as the week promised to be difficult on Wall Street.
Stock market indices at 8:00 a.m.
London, Frankfurt et Paris fell between 0.2% and 0.4% at the start of the session in Europe.
HAS New Yorkbefore the markets opened, the average Dow Jones industrial stocks and the broader index S&P 500 lost 0.6%.
In Asia, the Nikkei 225 slipped 0.9% to Tokyo. The scholarship of Shanghai tumbled 1.5% to end the day at its level three years ago, before the pandemic. THE Hang Seng the bottom of 0.7% to Hong Kong. Sydney et Seoul fell by 0.8%.
On the New York Commodity Exchange, the price of oil dropped 54 US cents to US$87.54 per barrel.
The context
“US government bonds are the essential benchmark once morest which virtually all other global assets are ultimately evaluated,” points out Stephen Innes, partner at SPI Asset Management, recalling that these assets sometimes experience “high volatility and a tendency uncertain”.
The new record reached by American rates has canceled out the slight easing of geopolitical fears of investors, who are monitoring the evolution of the conflict between Israel and Hamas.
Oil prices fell slightly following the announcement of “continuous flow” aid to the Gaza Strip and the release of two American hostages by Hamas.
Around 6:55 a.m., the barrel of North Sea Brent, for delivery in December, lost 0.52% to 91.68 American dollars ($US). Its American equivalent, the baril de West Texas Intermediate (WTI)for delivery on the same deadline, which is the first day of use as a reference contract, fell 0.65% to US$87.52.
“However, tensions remain extremely high and the risk of a serious escalation persists, given that Israel has intensified its airstrikes on Gaza and Hezbollah might drag Lebanon into war, and spread tensions throughout the region », Estimates Ipek Ozkardeskaya.
The Israeli army on Sunday accused Hezbollah of seeking military escalation at the risk of dragging Lebanon into war.
Tens of thousands of soldiers have been massed by the Israeli army on the outskirts of Israel’s northern border with Lebanon, where deadly exchanges of fire have increased between the army and Hezbollah, while residents evacuate the border area on both sides.
In economic news, company results will continue to occupy investors’ minds this week, before the meeting of the European Central Bank (ECB).
The ECB is expected to leave its rates unchanged on Thursday during a remote meeting in Athens, a first following ten increases in a row, with inflation falling sharply in the euro zone leaving it with little other choice.
“It is unlikely that Christine Lagarde (the president of the ECB, editor’s note) will announce the end of the tightening of the ECB’s monetary policy. She will probably remain cautiously optimistic, believing that the ECB is approaching the end of the tunnel,” predicts Ipek Ozkardeskaya.
Philips orders drop
Philips published green results for the third quarter on Monday and raised its forecasts despite a recent negative opinion from the United States Medicines Agency (FDA) on its defective respiratory devices for people suffering from sleep problems.
Comparable order intake is down 9% compared to the same time last year. Its action lost 0.75% in Amsterdam.
On the currency side
Around 6:55 a.m., the Japanese currency fell slightly by 0.07% to 149.97 yen per US dollar, it hit a low point at 150 yen per dollar earlier.
The euro gained 0.09% once morest the dollar to US$1.0604 per euro.
The bitcoin gained 2.37% to US$30,567, the highest since July.
1698073842
#Stock #market #happening #markets #opening #Monday #October