by Claude Chendjou

PARIS (Reuters) – Wall Street is expected to rise and European stock markets are moving in the green at mid-session, the specter of a default in payment by the United States having now been dismissed, but the rest of the trend could be influenced by the official US jobs report.

Pending this statistic scheduled before the opening of the New York Stock Exchange, New York index futures report a gain of 0.54% for the Dow Jones, 0.49% for the Standard & Poor’s 500 and 0 .47% for the Nasdaq.

In Paris, the CAC 40 gained 1.3% to 7,230.48 points around 11:10 GMT. In Frankfurt, the Dax rose 1.16% and in London, the FTSE took 0.98%.

The pan-European FTSEurofirst 300 index gains 0.98% and the EuroStoxx 50 in the euro zone 1.2%. The Stoxx 600 gained 1.01%, driven mainly by the real estate compartment (+3.3%), that of basic resources (+4.47%) and that of oil and gas (+1 .65%).

Over the week as a whole, however, the CAC 40 has recorded a loss of 1.28% at this stage, while the Stoxx 600 has gained 0.43%.

In the United States, after the House of Representatives, the Senate approved the bill on Thursday evening providing for a temporary suspension of the country’s debt ceiling, thus dispelling the specter of a default.

Main macroeconomic meeting of the week, investors are now waiting at 12:30 GMT for the official report from the US Department of Labor on job creation for the month of May, while the recent “Jolts” surveys (Job Openings and Labor Turnover Survey ) and ADP, as well as the statistics for weekly jobless claims, testified to the resilience of the job market.

The Reuters consensus forecasts 190,000 job creations in May after 253,000 in April, an unemployment rate of 3.5% against 3.4% previously, and a slowdown in wage growth to 0.3% over one month after +0 .5% in April.

Markets are currently pricing in an 80% chance of a dovish Fed rate at the June 14 meeting, according to CME Group’s FedWatch Barometer. WALL STREET VALUES TO FOLLOW

Dell fell about 4% in pre-market, the Texas computer group having published Thursday evening a forecast of turnover for the current quarter below expectations.

Lululemon Athletica jumped 15% in pre-market trading after the sporting goods retailer raised its full-year sales and profit forecast.

VALUES IN EUROPE

Lululemon forecasts pull Adidas (+4.76%) and Puma (+4.6%) on the Frankfurt Stock Exchange. The distribution index in Europe advances by 1.52%.

Also in Frankfurt, ProSiebenSat.1 gained 2.4% after an increase in the Czech group PPF’s stake to 15.04% in its capital.

In London, the animal health specialist Dechra Pharmaceuticals climbed 8.29% after the announcement of its takeover by the Swedish fund EQT for 4.46 billion pounds (5.6 billion dollars or 5.1 billion euros). euros).

RATE

The yield on the French ten-year OAT took 3.5 basis points to 2.849% and that of the German Bund for the same term advanced by 3.9 points to 2.287%.

The yield difference (spread) between these two bonds is generally stable, around 55 points, while the Standard & Poor’s rating agency is due to issue its opinion on the French debt in the evening, a month after a first warning from its competitor Fitch against Paris.

In the United States, the yield on ten-year Treasuries was practically unchanged at 3.6123% before the employment figures.

CHANGES

The dollar, down 0.09% against the other major currencies, is heading for its worst weekly performance since mid-January, as uncertainty over the US debt is lifted, while markets are banking on a status quo on rates from the Fed.

The euro is displayed at 1.0765 dollar (+0.04%), after touching 1.07695, a high of around a week, Christine Lagarde, the president of the ECB having declared Thursday that the institution still had some way to go in raising its interest rates.

OIL

The oil market is benefiting from the US Congress passing the country’s debt deal ahead of Sunday’s highly anticipated OPEC+ meeting.

Brent rose 1.49% to $75.39 a barrel and US light crude (West Texas Intermediate, WTI) 1.55% to $71.19 a barrel.

(Written by Claude Chendjou, edited by Blandine Hénault)

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