It came down to little, but the benchmark index in the United States, the S&P 500, escaped, on Friday, an official entry into the “bear market”, that is to say a drop more than 20% from its last high. Down 2.3% during the session, the S&P 500 managed to end up in balance (+0.01%). If the Nasdaq Composite is already in this “bear market” situation compared to its peak in early April, this is a relief for traders, at least in the short term.
” Stocks continue to move with supply and demand, but the mood that drove markets higher for a decade is gone, observes George Ball of investment firm Sanders Morris Harris. A bear market lasts on average one year (338 days, more precisely). We are only at the third, so there is still plenty of time for the decline to continue, but, of course, with intermediate phases of rebound. »
Slight increase in sight
We may be there. In Paris, we are thus preparing to progress by around 0.5% in the first exchanges on Monday according to the future contracts of the Bedroom 40. In Asia, the Nikkei 225 gained 0.98% but Chinese markets gave up some ground.
Wall Street has just experienced another week of decline, the eighth in a row for the Dow Jones (a first since 1923, reports CNBC), the seventh for the S&P 500 and the Nasdaq Composite. Releases fueled by sentiment that rising supply, freight and labor costs will weigh on corporate margins throughout this year, as evidenced by warnings from the two big names in retail american walmart and Target.
New authorization for Dupixent
The program of the day should not allow to know more about this subject. It is hardly expected during the day that the Ifo index of the German business climate in May (consensus: 91.3 against 91.8 in April) and sales of new homes during the month of April in the United States (-1.7%).
On the value side, Sanofi announced that the Food and Drug Administration (FDA), the US health authority, has authorized the use of its drug Dupixent for the treatment of patients 12 years of age and older with eosinophilic esophagitis.
Morgan Stanley lowered its recommendation on Publicis from “online weighting” to “underweight” with a target reduced from 54 to 48 euros.