The spectacular rebound of Wall Street in the second half of the session, the ebb in US rates remove the fears of breaks in support which had arisen the day before with the collapse of 14.935 by the Nasdaq (support preserved on the final bell stroke).
The session promises to be calm in the absence of a major indicator on the agenda.
Despite this uptrend, the specialists are relatively skeptical, highlighting the many clouds that are gathering on the horizon.
‘After three years of excellent performance, investors are rightly wondering about the future,’ sums up Johan Van Geeteruyen, strategist at Degroof Petercam Asset Management.
‘Where can we still find potential at the dawn of a tightening of monetary policy and soaring inflation?’ Asks the investment director of the independent asset management company.
A calming factor, the yield on ten-year Treasuries begins to fall by 1.800% towards 1.77% … but this remains above the levels observed at the end of March 2021 and close to the two-year high: expectations inflationists become a central topic.
In this context that is not conducive to risk taking and in the absence of catalysts, market participants will closely follow the publication, tomorrow, of the latest inflation figures in the United States.
Above-consensus figures could well trigger a further rise in government bond yields and rekindle fears about future rate hikes.
Oddo BHF economists say they expect consumer prices to moderate month-over-month, but further acceleration over one year is linked to an unfavorable base effect.
In short, nothing to see much clearer on the future trajectory of inflation, admit private banking analysts.
‘The Fed can only remain on alert under these conditions,’ they conclude.
Moreover, investors seem unwilling to commit too much before the start of the quarterly earnings’ season, which will kick off on Friday by glove banking publications JPMorgan Chase, Citi and Wells Fargo.
Regarding SBF-120 stocks, Technip Energie (+ 6.5%) is reacting very favorably to the 1.8 million share buyback plan).
Alstom has signed a framework contract with Norske Tog (NT) to supply a total of 200 Coradia Nordic regional trains. Worth more than 1.8 billion euros, this contract is the largest railway contract in Norwegian history. The value of the first firm order for 30 trains amounts to 380 million euros.
Airbus has signed a contract with Azorra for twenty-two A220 family aircraft, including twenty A220-300s and two ACJ TwoTwenty. Azorra is an aircraft rental company based in Fort Lauderdale, Florida, USA, which focuses on business, regional and midsize (crossover) aircraft.
Plastic Energy and TotalEnergies announce the signing of a new agreement to promote the technology of chemical recycling of plastics. Plastic Energy will build its second chemical recycling plant Sville to transform, via their patented process, plastic waste into a recycled raw material called ‘TACOIL’.
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