(CercleFinance.com) – The Paris Bourse should show little daring Monday at the start of a session that promises to be relatively calm since no leading indicator is on the agenda of the day.
At around 8:15 am, the ‘future’ contract on the CAC 40 index – delivery at the end of January – advances by 15 points to 7231 points, auguring a very slight increase in the start of the session.
However, investors seem to be gearing up for another turbulent week, as the events of the past week have heightened fears of a faster-than-expected rate hike in the United States.
The unexpected tone of the Fed’s ‘minutes’ – released last Wednesday – caused US government bond yields to rise sharply, a dynamic that made investors nervous.
‘The American bank Goldman Sachs now expects four rate hikes in 2022 and a reduction in the balance sheet which should start in July at the latest,’ the IG teams recalled this morning.
Over the past week, the Paris market rose 1.3%, but the trend was much less positive on the side of New York, where the Dow Jones lost 1.9% last week.
This is the worst annual start for the US index since 2016, not very encouraging news when we consider that the first days of the stock market year generally determine the trend of Wall Street over the whole year. .
The evolution of the stock markets in the coming days will largely depend on developments in the interest rate market, knowing that stakeholders may also react strongly to the latest economic statistics.
It is in this delicate context that the latest consumer price figures in the United States will be unveiled on Wednesday, which could well show an acceleration in inflation.
The next few days will also be punctuated by the publication across the Atlantic of producer prices, retail sales and industrial production, which could show that activity has held up well to the Omicron surge.
Investors will also have to take into account the unemployment figures in the euro zone, which will be published in the morning, before taking note of the stocks of wholesalers in the United States this afternoon.
In the coming weeks, investors will also focus their attention on the first publications of annual results, in particular with a view to assessing the impact of the cost increases suffered since the summer.
Banking giants JPMorgan Chase, Citi and Wells Fargo will unofficially kick off the earnings season this Friday with their fourth quarter accounts.
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