(CercleFinance.com) – The Paris Stock Exchange is expected to rise slightly on Monday morning in the wake of the vigorous rebound initiated by Wall Street on Friday, but the differences should remain limited before the multiple meetings which are looming over the coming days.
Around 8:15 a.m., the ‘future’ contract – May delivery – rose 38.5 points to 8083.5 points, suggesting a favorable direction to start the week.
Although most European markets will be closed on Wednesday for May 1, the economic agenda for the week still promises to be busy, culminating in the Fed’s monetary policy meeting, which will make its policy decisions monetary on Wednesday evening.
No rate change is expected on occasion, but investors will once again turn to Jerome Powell, its president, with the hope that he will dissipate a little the fog in which they have been operating for several weeks.
This speech comes as the latest inflation figures in the United States have revived fears of a later than expected monetary easing of the Federal Reserve’s monetary policy, which could not materialize before the month of november.
The employment figures, which will be published on Friday, should thus demonstrate the solidity of the American economy, with 250,000 job creations planned in April, compared to 303,000 in March.
Thanks to good results from Microsoft and Alphabet, Wall Street ended in the green on Friday and even signed its best week of the year in the process, with a weekly gain of more than 4% for the Nasdaq.
The week ahead could allow the heavily technology-weighted index to return to its all-time highs driven by the results of the sector’s mega-caps.
The quarterly performances of Amazon on Tuesday evening, then of Apple on Thursday, will provide insight into the current form of the tech giants and their ability to continue to drive the stock markets upward.
Among the avalanche of results expected across the Atlantic during the week also include those from AMD, 3M, Coca-Cola, Eli Lilly, Pfizer, McDonald’s and Qualcomm.
In Europe, the accounts of adidas, ArcelorMittal, Crédit Agricole, Legrand, Mercedez-Benz, Société Générale and Volkswagen will also be closely monitored.
Investors are also awaiting monthly figures for consumer prices in the euro zone, due tomorrow, which should also fuel the debate on the pace of the ECB’s future monetary easing.
On the bond market, the yield on ten-year Treasury bonds confirms their decline below 4.67%, after reaching its highest levels of the year last week.
On the Old Continent, the improvement also continues, its ten-year German equivalent currently stabilizing around 2.57%.
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