2023-05-19 13:10:34
(Photo: Getty Images)
MARKET REVIEWS. Stock markets are moving in the green on Friday, following the latest statements on the US debt ceiling negotiations, except for Chinese stock markets where investors are worried regarding signs of a slowing economy.
Stock indices at 8:00 a.m.
The futures contracts Dow Jones collected 62.00 points (+0.18%) at 33,680.00 points.
The futures contracts S&P 500 collected 6.75 points (+0.16%) at 4,218.75 points.
The futures contracts Nasdaq lost 4.00 points (-0.03%) to 13,890.00 points.
In London, the FTSE 100 collected 35.54 points (+0.46%) at 7,777.84 points.
In Paris, the CAC 40 advanced by 56.53 points (+0.76%) to 7,503.42 points.
In Frankfurt, the DAX rose by 113.79 points (+0.70%) to 16,277.15 points.
In Asia, the Nikkei Tokyo ended up 234.42 points (+0.77%) at 30,808.35 points.
For his part, the Hang Seng Hong Kong fell 276.68 points (-1.40%) to 19,450.57 points.
On the oil side, the price per barrel of American WTI rose US$0.96 (+1.34%) to US$72.82.
The barrel of North Sea Brent gained US$1.00 (+1.32%) to US$76.86.
The context
The three main indices of the New York Stock Exchange are moving towards an opening close to equilibrium according to their futures contracts.
The risk that the United States will find itself in default if no agreement is reached in Congress to raise the country’s debt ceiling has made investors nervous for several weeks. But the more the negotiations progress, the more everyone seems to think that an agreement will see the light of day sooner or later.
“The talks around the US debt ceiling are going to lead to something…which has definitely helped boost morale,” said Finalto analyst Neil Wilson.
Democratic US President Joe Biden has been briefed on “steady progress” in negotiations, a White House official said on the sidelines of the G7 summit in Japan on Friday.
As for the Republican boss of the House of Representatives Kevin McCarthy, he sees “a breakthrough by which we might reach an agreement”.
However, in the longer term, “persistent inflation, a slowing recovery in China, monetary tightening, and weak U.S. employment and banking sector data can still be seen as dark clouds for investors.” investors,” warns Pierre Veyret, an analyst at ActivTrades.
The Hong Kong Stock Exchange lost 1.42% on Friday and Shanghai fell 0.48%. The disappointing results of e-commerce titan Alibaba (-6.04%) heightened concerns regarding Chinese consumer demand.
As for interest rates and monetary policy, sovereign bond rates have been rising once more for just over a week.
The German 10-year debt rate was worth 2.48%, up slightly from Thursday evening, but up more than 0.2 percentage points for a week.
Investors are adjusting their expectations for Federal Reserve (Fed) monetary policy this year following comments from members of the monetary institution were less dovish than expected.
Several Fed officials will speak at a conference on monetary policy organized by the US central bank. The President of the European Central Bank (ECB) Christine Lagarde must also speak following the close of European markets.
Semiconductors lead the race
The British government unveiled a strategy in semiconductors on Friday, providing for a billion pounds sterling (1.15 billion euros) of investment in the decade.
Semiconductor stocks benefited across Europe: STMicroelectronics took 1.63% and Soitec 3.58% in Paris. Infineon gained 0.70% in Frankfurt at ASML 1.37% in Amsterdam.
On Thursday, they had already taken advantage of the announcement by Micron investments in Japan.
On the side of currencies and oil
Crude prices are rising. THE Brent de more du Nord for July delivery advanced 1.15% to US$76.74 and that of American WTI rose 1.22% to US$72.74.
The yen took 0.34% to 138.22 yen per dollar, following the publication of an increase in inflation in Japan, which might push the BoJ to act.
The euro gleaned for its part 0.21% to 1.0793 $US.
The bitcoin gained 0.47% to US$26,850.
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