PARIS (Reuters) – Wall Street is expected to rise on Monday, while European indices advance at mid-session, investor optimism about the economic and monetary trajectory supporting assets.
Futures on New York indices suggest Wall Street opening in the green, with the Dow Jones rising 0.03%, while the Standard & Poor’s 500 takes 0.12% and the Nasdaq 0.2%.
In Paris, the CAC 40 advanced 0.33% to 8,194.59 points around 10:12 GMT. The Dax in Frankfurt gained 0.39%, compared to 0.23% for the FTSE in London.
The pan-European FTSEurofirst 300 index rose by 0.16%, compared to 0.12% for the EuroStoxx 50 and 0.17% for the Stoxx 600.
The markets continue their momentum in the absence of new data, the latest CPI inflation figure, published last Wednesday, fueling hopes of an upcoming rate cut by the Federal Reserve which would support the American and global economy.
Adding to the optimism, China unveiled new support measures for its real estate sector, as the world’s second-largest economy remains mired in a real estate crisis since 2021.
This encouraging news supports risky assets as well as raw materials, the price of copper, a metal essential to industry and therefore considered a good indicator of the health of the global economy, having registered a record on Monday on the Stock Exchange. London metals.
Two meetings could nevertheless encourage caution this week.
The minutes of the Fed’s last monetary policy meeting will be published on Wednesday, and will make it possible to gauge the bias within the FOMC, the committee responsible for setting rates. An accommodative positioning would be all the more welcome as members of the central bank’s Governing Council have sought to temper investor optimism.
On the corporate side, Nvidia’s results will also be published on Wednesday, as the theme of artificial intelligence continues to support American stocks. A disappointment in the semiconductor manufacturer’s figures could weigh on all stocks exposed to technology.
METALS
Gold and copper hit record highs on Monday, supported by prospects of easing monetary policy in the United States and a rebound in the Chinese economy. Copper is also being driven higher by systematic buyers, who are looking to capture the metal’s performance.
Gold rose 1.09% to $2,441.21 per ounce, after hitting a record $2,449.83.
Copper futures listed on the London Metal Exchange hit a record high of $11,104.50 per tonne at the start of the session.
VALUES TO FOLLOW IN WALL STREET
Apollo Global Management and Sony Pictures Entertainment have signed confidentiality agreements that will allow them to review Paramount’s accounts before a potential bid, but have backed away from making an all-cash offer for the group, the New York Times reported Friday.
VALUES TO FOLLOW IN EUROPE
On the Stoxx 600, the basic resources index gained 0.79% and that of energy 0.59% thanks to the real estate recovery measures decided by China.
Scor fell 3.11% after UBS lowered its price target on the reinsurer.
EPC Groupe fell 4.29%, the explosives manufacturing and distribution company having announced on Monday that it had been the subject of a search by the French Competition Authority.
Richemont rose 5.31%, one of the best performances in the Stoxx 600, after Jefferies and UBS raised their price targets on the luxury group.
The British video game company Keywords Studios soars by 62.59% after the confirmation by the investment fund EQT of advanced discussions with a view to its buyout for 2.2 billion pounds.
RATE
The yields vary little in the absence of catalysts.
The yield on the German ten-year rate is stable at 2.52%, that of the two-year rate remains at 2.984%.
The ten-year Treasury yield is unchanged at 4.4179%, while the two-year remains at 4.8201%.
CHANGES
The foreign exchange markets are wait-and-see, with no indicators expected today as the publication of the minutes of the Fed’s latest monetary policy meeting looms, expected on Wednesday.
The dollar advances by 0.03% against a basket of reference currencies, the euro is unchanged at 1.0869 dollars, like the pound sterling, at 1.2699 dollars.
OIL
Crude markets are digesting the latest information from Iran and Saudi Arabia, two of the world’s largest producers, after the death of the Iranian president and concerns about the state of health of the Saudi king.
Brent eroded by 0.23% to $83.79 per barrel, American light crude (West Texas Intermediate, WTI) declined by 0.36% to $79.77.
(Written by Corentin Chappron, edited by Kate Entringer)
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