2023-05-25 12:15:40
(Photo: Getty Images)
MARKET REVIEWS. Global stock markets remain feverish on Thursday following two sessions of decline in the face of numerous uncertainties over global growth and debt in the United States, but the results of the tech giant Nvidia go to support the technology sector.
Stock indices at 8:00 a.m.
Global markets were losing ground on Friday morning as investors continued to worry regarding the fiscal crisis in the United States.
London, Frankfurt et Paris yielded between 0.3% and 0.5% at the start of the session in Europe.
In New York, before the markets open, the average Dow Jones of industrial stocks fell by 0.3% and the broader index S&P 500 added 0.5%.
In Asia, the Nikkei 225 took 0.4% in Tokyo. The scholarship of Shanghai lost 0.1% and the Hang Seng plunged 1.9% in Hong Kong. Sydney lost 1.1% and Seoul 0,5%.
On the New York Commodity Exchange, the price of oil dropped 61 US cents to US$73.73 a barrel.
The context
In the United States, the Nasdaq index is expected to open higher by more than 1.9% according to its futures contract, with investors wildly applauding the results of Nvidia released Wednesday following the close.
Current 6th best valued company on the stock market in the world, with more than 750 billion US dollars (US $ billion) of capitalization, the specialist in graphics cards should fly away by 27% at the opening.
Wall Street pointed to the second-quarter revenue forecast of US$11 billion, which would represent a 64% jump from the same period last year thanks to companies transitioning to compute accelerated with generative artificial intelligence, according to company management.
Since the beginning of the year, Nvidia has already seen its share price double, the locomotive of the Nasdaq which is progressing by more than 20%.
The S&P 500, where tech companies make up a significant portion of the weighting, is expected up 0.55%. Conversely, the Dow Jones should open lower around 0.3%.
The rest of the news is darker for investors. About a week before a possible American default, the rating agency Fitch placed the AAA rating of the United States “on review”.
To these “endless questions” on the debt is added the “uncertainty as to the degree of additional monetary tightening that might be appropriate” in the coming months by the American central bank, notes John Plassard, investment specialist at Mirabaud, following the publication of the minutes of the last Fed meeting.
Until recently, the equity market was hoping for a monetary turnaround and several declines by the end of the year.
In Europe, if inflation were to “decline rapidly”, according to the Vice-President of the European Central Bank Luis De Guindos, this will not be the case for underlying inflation, which excludes the more volatile prices of raw materials. and food, because “the engines of inflation are changing”, he explained to the European Parliament.
“We pay much more attention to the evolution of wages and the evolution of profit margins,” he also said.
Investors await the second estimate of US GDP growth in the first quarter.
Chip jump behind Nvidia
Nvidia’s results benefited the industry everywhere.
In Japan, manufacturers of industrial equipment have soared like Advantest (+16,22%), Tokyo Electron (+3,01%), Screen Holdings (3,52%) et Sumco (4,36%). Taiwan Semiconductor gained 3.43%, Samsung Electronic 0,44%.
And Europe, ASML took 4.97%, Soitec 7,33%, STMicroelectronics 0,97%.
In the electronic exchanges preceding the opening of Wall Street, AMD rose by 9% and Micron by 4%.
On the side of currencies and commodities
Oil releases some of its gains since the start of the week: the barrel of Brent de Mer du Nord fell 1.79% to US$76.95 and a barrel of American WTI 1,98% à 72,88 $US.
The price of gaz drop of 5.74% to 26.19 euros per megawatt hour for the benchmark European contract.
The euro remains weak (-0.20%) once morest the US dollar at US$1.0728 per euro.
The bitcoin fell 0.64% to US$26,230.
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