(News Bulletin 247) – The New York Stock Exchange is expected to rise slightly on Friday morning, still driven by the easing of tensions on the banking front, even if caution should limit variations on the eve of highly anticipated figures on the inflation.
In the current state of things, the ‘futures’ on New York indices signal an opening of Wall Street up 0.5% to 0.6% in the wake of European stock markets which confirm their good shape at the moment.
The continued rise in the markets of the Old Continent, linked to inflation figures deemed rather reassuring, should help support Wall Street.
At the opening in New York, the European markets were all in the green, with gains ranging between 0.6% in Zurich and 1.1% in Frankfurt.
The trend is supported in particular by the latest inflation figures in Germany and Spain, which show that the base effect due to the ebb in energy costs is helping to curb the evolution of prices.
If this news is encouraging, the rebound at the opening could be limited by the approach of the publication, tomorrow, of inflation measured by personal consumption expenditure (PCE), an index particularly followed by the Fed.
On Wall Street, the start of the day was driven by a series of US economic indicators, which rather militate in favor of a slowdown in the pace of rate hikes by the Federal Reserve.
GDP rose 2.6% at an annualized rate in the fourth quarter, compared to a previous estimate of 2.7%, which shows that the institution’s monetary tightening is starting to bear fruit.
On the employment side, registrations for unemployment benefits increased by 7,000 during the week of March 20, to 198,000 against 191,000 the previous week, which again proves that tensions on the labor market are tending to ease.
On the bond market, the yield of 10-year Treasuries still tends to exceed 3.59%, while the dollar is falling again against the euro, which gains 0.7% to 1.0915 dollar.
Crude prices continue to recover against a backdrop of a return to risk appetite, with a barrel of American light crude gaining nearly 1% to 73.7 dollars.
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