This Thursday will mark, at the end of the day, Paris time, the opening of the long-awaited Jackson Hole symposium, which brings together, as every year, all the major fundraisers on the planet. Central bankers, finance ministers and recognized economists will meet in the state of Wyoming to discuss the major economic issues of the moment. Operators will especially await the intervention of the President of the American Federal Reserve, Jerome Powell, the next day at the opening of the conference program (4 p.m. in France).
In the meantime, two main appointments to note this day on the statistical level. At 10 a.m., it will be the IFO German business climate index for August. Coming out at 88.6 for the month of July, it is expected to fall for the current month, to 86.8. Second highlight of the session, we will learn, in the United States, of a new estimate of gross domestic product (GDP) for the second quarter. Down 0.9% during the last assessment, less than a month ago, the Bloomberg consensus now expects a decline of 0.7%.
Three times as many Tesla shares
The day’s other statistics are unlikely to influence the trend. In France, the results of the monthly business survey in industry, trade and services for the month of August will be unveiled at the start of the morning, the index should return from 11 to 7 points. The indicator of the climate of confidence in industry for the same period is expected to decline by 2 points, to 104. Across the Rhine, second quarter GDP should have remained stable according to economists polled by Bloomberg. Finally, in the United States, weekly jobless claims are expected to rise by 2,000 to 252,000.
On the business side, the electronic equipment manufacturers Actia and Lacroix unveil their first half figures while Plastivaloire will report its third quarter revenues.
Across the Atlantic, a big day for Tesla shareholders, who will see the nominal value of their shares divided by three, in accordance with the decision approved at the last general meeting. After the transaction, they will hold three times as many shares, the value of which will be mechanically divided by the same amount.