(CercleFinance.com) – The main European stock markets are facing a slight headwind this morning: Paris gives up 0.3% while London and Frankfurt drop just under 0.1%, on the eve of the kick-off of Q4 earnings season.
Yesterday, investors reserved a rather favorable reception to the latest inflation figures in the United States, which showed a marked deceleration in the rise in consumer prices in December.
At Aurel BGC, it is estimated that the inflation figures are ultimately ‘close to consensus expectations’ but that reading them in detail ‘is not reassuring’. Analysts also fear that the promise of a decline in inflation in mid-2022 made by Jerome Powell will prove to be ‘untenable’.
Starting tomorrow, investors will take in quarterly corporate results to see if high equity market valuations are justified, with releases from JPMorgan Chase, Citi and Wells Fargo usually kicking off the earnings season.
Tomorrow will also be rich in economic indicators across the Atlantic, with a host of statistics on the menu including retail sales, import prices, industrial production and consumer confidence in Michigan.
In the meantime, participants will learn today in the United States of unemployment benefit claims and industrial producer prices which will provide more information on the labor market and inflation, two factors closely followed by the fed.
In European stocks news, AstraZeneca indicates that positive results on its Covid vaccine, Vaxzevria, argue for its use as a 3rd dose. Thus, Vaxzevria would increase the immune response to the beta, delta, alpha and gamma variants, as well as to the Omicron variant.
The Anglo-Swedish laboratory also announced the signature of a collaboration agreement with Scorpion Therapeutics in order to discover, develop and market precision drugs against cancerous proteins that have hitherto been difficult to target.
Finally, Nokia has been selected by WINDTRE, an Italian telecommunications company, to deploy a new high-performance optical network in the country supporting traffic from all over Italy and meeting the growing demand for ultra-fast connectivity.
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