(Reuters) – Wall Street is expected to fall on Monday and European stock markets are trending in the green at mid-session, awaiting the publication of new economic data later this week.
New York index futures signal Wall Street opening down 0.07% for the Dow Jones, 0.17% for the Standard & Poor’s-500 and 0.2% for the Nasdaq. In Paris, the CAC 40 rose 0.28% to 7,064.68 around 12:17 GMT. In Frankfurt, the Dax gained 0.27% and in London, the FTSE advanced 0.63%.
The pan-European FTSEurofirst 300 index takes 0.61%, the eurozone EuroStoxx 50 0.5% and the Stoxx 600 0.62%.
Investors remain wait-and-see before the publication of inflation data in the United States on Tuesday and in the euro zone on Friday, two key figures for the trajectory of monetary policy on both sides of the Atlantic.
“Markets have the impression that the Fed is indeed data dependent. They want to see the impact of previous rate hikes on the economy, the extent of which will not be visible for some time,” said Daniela Hathorn , analyst at Capital.com.
The markets appear to be largely ignoring Moody’s decision to lower the outlook for the US credit rating from “stable” to “negative” on Friday, as well as the risk of a partial shutdown of the US federal administrations (“shutdown”) before the deadline set for the end of this week.
In Europe, European Central Bank (ECB) Vice President Luis de Guindos said on Monday that Frankfurt would have more information in December “to reassess the inflation outlook and required economic policy measures.” .
VALUES TO FOLLOW AT WALL STREET
The New York Stock Exchange is expected to fall on Monday, with Boeing rising around 3% in pre-market trading after Emirates announced an order worth a total of $50 billion at list price.
VALUES IN EUROPE
Danish laboratory Novo Nordisk rises 2.9% after data showed that the cardiac benefits of its obesity treatment Wegovy are not due to simple weight loss, dragging down the European health index in its wake , which is up 1.42%.
Phoenix Group jumped 5.4%, among the best performers on the Stoxx 600, after the insurer raised its full-year cash flow forecast on Monday.
British Land takes 4%, as the property company said it expected annual rental growth at the high end of its previous forecast.
In Paris, Technip Energies fell 2.2% after Barclays lowered its recommendation to “underweight” from “overweight.
Orpea fell 10.4%, the biggest drop in the SBF 120 index, as the nursing home group announced a first capital increase of around 3.9 billion euros.
RATE
Euro zone bond yields were steady on Monday, pending US inflation figures and other data this week.
The yield on the ten-year German Bund stands at 2.691%, that on the two-year rate at 3.151%.
The American ten-year is moving at 4.632%, and its two-year equivalent at 5.0496%.
CHANGES
Trading on the currency markets does not show a marked direction, with investors remaining wait-and-see before the publication of new economic data.
The dollar fell (-0.02%) against a basket of reference currencies and the euro for its part lost 0.05% to 1.0676 dollars.
OIL
Oil prices hesitate on Monday amid uncertainties regarding demand in the United States and China, combined with mixed signals from the American Federal Reserve.
Brent rose 0.21% to $81.6 per barrel, with American light crude (West Texas Intermediate, WTI) increasing 0.27% to $77.38 CLc1.
NO MAJOR ECONOMIC INDICATOR ON THE AGENDA FOR NOVEMBER 13
(Some data may have a slight lag)
(Writing by Augustin Turpin and Diana Mandia, editing by Kate Entringer)
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