by Claude Chendjou
PARIS (Reuters) – Wall Street is expected to see slight variations at the opening on Wednesday in the absence of a catalyst and the main European stock markets are slightly in the red at mid-session in a wait-and-see context before the publication of the figures on Thursday monthly forecasts of US inflation that could influence the trajectory of interest rates.
New York index futures signal Wall Street opening down 0.14% for the Dow Jones and near stability for the Standard & Poor’s 500 (-0.05%) and the Nasdaq (+0.08%). ) the day after a closing already in scattered order.
In Paris, the CAC 40 fell 0.1% to 7,419.53 points around 12:10 GMT. In Frankfurt, the Dax lost 0.11% and in London, the FTSE, rich in stocks linked to raw materials, lost 0.35%.
The pan-European FTSEurofirst 300 index fell by 0.25%, the eurozone’s EuroStoxx 50 by 0.04% and the Stoxx 600 by 0.21%.
Basic resources in Europe, down 0.55%, weigh on the trend on the Stoxx 600 in the wake of the decline in metals, the market showing caution before the publication of American inflation.
Investors are awaiting consumer price data (CPI) for December, due Thursday at 1:30 p.m. GMT, as the probability (63% compared to 79% last week) of an interest rate cut of the Fed has been losing ground since March according to the latest Fedwatch barometer from CME Group.
Economists polled by Reuters forecast a reacceleration in the CPI last month to 0.2% month-on-month and 3.2% year-on-year, following increases of 0.1% and 3.1% respectively in November. The Fed will hold its next monetary policy meeting on January 30-31.
In Europe, where the development of interest rates is also a matter of concern, the next decisions of the Bank of England (BoE) and European Central Bank (ECB) are expected on February 1.
Meanwhile, ECB Vice President Luis de Guindos indicated on Wednesday that euro zone inflation could remain around its current levels for some time while the bloc’s economy may have slipped into recession late in the year. 2023.
VALUES TO FOLLOW AT WALL STREET
Hewlett Packard Enterprise announced Tuesday evening the acquisition of networking specialist Juniper Networks for $14 billion. Juniper shares rose 1.3% in pre-market trading on Wednesday after jumping 21.8% the day before following the first information on this project.
Stocks linked to cryptoassets like Riot Platforms, Coinbase and Marathon Digital lost 1.3% to 4.2% in pre-market trading on Wednesday as the SEC announced that it had been the victim of a false message on its X account which caused briefly rise bitcoin.
VALUES IN EUROPE
Sodexo (+0.29%) is in the green while its employee benefits division, Pluxee, announced that it expects double-digit annual organic growth in its turnover until 2026.
Sainsbury’s, Britain’s second-largest supermarket chain, fell 5.45% as it failed to raise its annual profit forecast despite strong demand for its premium products in the holiday quarter of Christmas.
Campari fell 5.5% after indicating that it had concluded a private placement of shares and bonds of 1.2 billion euros to finance the acquisition of French cognac producer Courvoisier.
The Swedish group Skanska lost 2.97% after announcing depreciation of real estate assets in the United States.
RATE
Bond yields in Europe take a break on Wednesday after their recent rise, with the German ten-year almost unchanged at 2.184% following a 15-point gain since the start of the year.
In the United States, the yield on Treasury bills of the same maturity fell by less than two basis points, to 3.998%.
CHANGES
The dollar depreciated slightly on Wednesday, by 0.07% against a basket of reference currencies.
The euro is trading at $1.0947 (+0.15%) and the pound sterling at $1.2726 (+0.17%).
In cryptocurrencies, bitoin is volatile and rose 0.5% to $45,634.07 around 12:10 p.m. GMT compared to a decline of 1.3% in the morning after the SEC’s announcement on a false message on its X account. The world’s best-known electronic currency rose 21 months to $47,897 after this false message.
OIL
The oil market is rising in a context of tensions in the Middle East which are taking precedence over economic concerns: Brent gains 0.21% to 77.75 dollars per barrel and American light crude (West Texas Intermediate, WTI) advances by 0.29% to $72.45.
NO MORE ECONOMIC INDICATOR ON TODAY’S AGENDA
(Written by Claude Chendjou, edited by Blandine Hénault)
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