(CercleFinance.com) – The New York Stock Exchange should cautiously rebound at the opening on Wednesday, reassured by the evolution of the yield on 10-year Treasuries which is moving away from the resistance of 4.56% after having briefly exceeded it yesterday.
Half an hour before the opening, the ‘futures’ on the main New York indices advanced by an average of 0.3%, announcing a modest recovery at the start of the session.
The stock market week began with a storm warning on Wall Street, where the major American markets all depressed, or jeopardized, important technical supports in the short or medium term.
The situation has deteriorated to the point that the Dow Jones, which has lost 3% in seven sessions, has only posted a symbolic gain of 1.4% since the start of the year.
In the immediate future, stocks are benefiting from the beginning of a lull on the debt market, while the moderate statistics published in the morning have allayed fears of a new rate increase.
The Commerce Department reported a modest 0.2% increase in durable goods orders in the United States in August, after a 5.6% drop in July.
Investors are also worried about the threat represented by a possible ‘shutdown’, the probability of which is now estimated at 90% by Goldman Sachs analysts, with the potential threats that such a scenario poses to the rating agencies. .
On the bond market, the yield on 10-year Treasuries is falling towards 4.50% after having flirted yesterday with the 4.56% mark, a symbolic threshold supposed to open the way to a rise towards 5%.
This lull in American yields had already allowed European markets to interrupt their upward streak, since the Euro STOXX 50 posted a gain of 0.2% at the time of the American opening.
The selling movement on long-dated sovereign bonds can be explained by the recent rise in oil prices, which is fueling inflation expectations.
Barrel prices continue to rise to reach new highs in almost a year, with US light crude climbing 2% to $92.3 per barrel while awaiting the release, later this morning, of weekly stock figures. Americans.
The greenback also continues its progression and gains 0.2% against the euro, to 1.0545, a high of more than six months, favored by the high level of government yields.
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