(CercleFinance.com) – The New York Stock Exchange should open on a hesitant note on Tuesday morning in a market that looks cautious on the eve of the publication of the latest inflation figures in the United States.
At this stage of the day, the ‘futures’ contracts on the main New York indices point to an opening of the New York Stock Exchange on scores very close to equilibrium.
Variations should remain limited in the absence of events or economic indicators likely to change the trend, with a wait-and-see attitude prevailing before the publication tomorrow of the highly anticipated inflation figures.
If the macroeconomic agenda looks particularly weak on Tuesday, the program will intensify tomorrow with the announcement of consumer prices in March, which should confirm their recent slowing trend.
US employment numbers in line with expectations – released on Friday – provided some support to US equity markets yesterday, but did not allow them to regain any real bullish momentum.
Strategists see a number of reasons that they believe justify staying out of the market at this time, citing the slowing economy, concerns surrounding the commercial real estate sector or the credit crunch.
Faced with these fears, the yield on 10-year Treasuries fell to 3.39% on Tuesday morning, with Treasury bonds once again playing their role as a safe haven in a more uncertain economic context.
Oil continues to stabilize after a turbulent month of March, which ended with the announcement of new production cuts from OPEC+. The barrel of American light crude is unchanged at 79.7 dollars.
On the foreign exchange market, the dollar retreats in the direction of 1.0910 against the euro in anticipation of the inflation figures which will appear tomorrow.
Investors are also showing some restraint as the corporate earnings season approaches, when they expect a sharp deterioration in earnings, the sharpest in almost three years.
Friday, JPMorgan Chase, Citi and Wells Fargo will open the ball of quarterly publications in the United States.
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