(CercleFinance.com) – The New York Stock Exchange should open without much change on Friday morning, close to its records, after the publication of new indicators that were less good than expected on the inflation front.
Half an hour before the opening, the ‘futures’ contract on the S&P 500 index lost 0.1%, but that on the Nasdaq 100 advanced by 0.1%, announcing an opening around equilibrium.
The stock markets seem to want to take a break after having set records in recent days thanks to renewed optimism about the health of the economy.
But the statistics published in the morning risk rekindling concerns about the level of inflation, after the already disappointing consumer price figures published on Tuesday.
On the real estate front, housing starts plunged 14.8% in January from the previous month, while U.S. housing permits – meant to foreshadow housing starts – only declined. than 1.5%.
Wall Street is coming off a long run of gains, which saw it advance in 14 of the last 15 weeks, which allowed the S&P 500 index to set new all-time highs beyond the 5000 points.
But analysts say they do not see what could disrupt this upward movement, with investors clearly keen to push the indices ever higher.
‘The markets only focus on good news: when economic statistics are positive for growth, when they are disappointing, they announce future rate cuts,’ notes a trader.
‘In such conditions, what could go wrong?’ he asks.
‘We also see that the results season was an upward catalyst,’ adds the professional.
Since the start of the results season, given on January 12 by the major banking groups, the S&P 500 index has increased by more than 5.2%.
Price variations could be affected today by cautious positions taken in view of the long weekend of ‘Washington’s Birthday’.
Conversely, the configuration of the ‘three witches’ – corresponding to the expiration of derivative products and ‘futures’ contracts – generally leads to an outbreak of volatility on the markets.
Copyright (c) 2024 CercleFinance.com. All rights reserved.