(News Bulletin 247) – Wall Street should open slightly higher on Thursday morning following the publication of several indicators attesting to the solidity of the American economy.
Half an hour before the opening, the ‘futures’ on the S&P 500 and the Nasdaq 100 advance by more than 0.1%, suggesting a rather favorable start to the session.
Benchmark futures maintained their lead after reports of a decline in weekly jobless claims and much stronger-than-expected growth in the first quarter.
GDP growth in the United States has indeed been revised to 2% for the first three months of the year, compared to 1.3% in the previous estimate, marking a much less significant slowdown compared to 2.6%. of the last quarter of 2022.
This figure bears witness, if need be, to the excellent resilience of the American economy and once again seems to be putting off the scenario of an imminent entry into recession.
Another figure welcomed by the markets, registrations for unemployment benefits fell by 26,000 during the week of June 19, to 239,000 against 265,000 the previous week.
Here again, the good health of the labor market continues to put into perspective the ‘recessive’ episode that analysts suggest for the second half of the year.
The looming gains contrast with a week that has so far been relatively volatile for US stock markets, torn between the economy’s resilience and the prospect of upcoming rate hikes.
Treasuries yields and the dollar are also rising in response to the data of the day, which reinforce expectations of a new monetary tightening from the Fed at the end of July.
The ten-year government bond rate rose almost 10 basis points to return to a one-week high of nearly 3.80%.
The dollar continues to regain strength after its bout of weakness at the beginning of the week, which brings the euro back to the contact of 1.0880 against the greenback.
As has been the case for 24 hours, the barrel of American WTI light crude has changed little, yielding 0.2% to 69.4 dollars.
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