(CercleFinance.com) – The New York Stock Exchange should catch its breath on Thursday morning after two sessions of rebound, investors returning to more caution following the publication of rather solid economic indicators.
Half an hour before the open, futures contracts on major New York indices are losing between 0.6% and 1.2%, signaling an opening in negative territory.
The US equity markets should thus give up part of their gains of the two previous sessions, which had enabled them to resume between 1.5% and 2%.
The Dow Jones thus reduced its decline since the start of the year to almost 8%.
Deprived of catalysts since the beginning of the week, investors had to digest several statistics from Washington early in the morning.
According to the third estimate of the Department of Commerce, the GDP of the United States increased by 3.2% at an annualized rate in the third quarter, while it had announced growth of 2.9% in the second estimate and 2.6 % in very first reading.
Registrations for unemployment benefits, they increased slightly by 2,000 during the week of December 12, standing at 216,000 against 214,000 the previous week.
Following these good figures, investors seem to be torn between the desire to make a few cheap purchases motivated by the resilience of the economy and risk aversion linked to the prospect of continued monetary tightening by the Federal Reserve.
On the bond markets, the yield on ten-year Treasuries continues to fall towards 3.67%.
Oil prices continue their recovery with a barrel of American light crude oil (WTI) which rose another 0.6% to 78.8 dollars.
Volatility is rising a little, with the CBOE’s VIX index certainly up 2.2% to 20.5 points, but in free fall over the last two months and almost back to its summer lows.
Volumes are expected to be thin anyway as Christmas approaches, which could amplify movements in one direction or the other.
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