PARIS (Reuters) – The main European stock markets are expected to be hesitant at the opening on Thursday, before new indicators and after the publication of several series of data giving hope that the Federal Reserve has finished raising rates.
Futures contracts suggest an opening up 0.1% for the Parisian CAC 40, compared to 0.15% for the FTSE in London, while the Dax in Frankfurt and the EuroStoxx 50 show no marked direction.
PMI activity indicators are expected this morning in the euro zone, and could confirm the decline in activity in the bloc.
The markets are also benefiting from a burst of indicators which suggest that the American economy is slowing, but that it should avoid recession.
Consumer confidence, new unemployment claims and durable goods were slightly better than expected, raising hopes that a “soft landing” for the American economy is possible.
The publication of the Federal Reserve’s report on Tuesday did not surprise the markets.
Investors continue to bet on a first rate cut in June, with some operators even betting on a cut as early as March.
Furthermore, the markets are expected to be calm on Thursday, with the Japanese and American stock markets closed for the day.
VALUES TO FOLLOW:
A WALL STREET
The New York Stock Exchange ended higher on Wednesday as investors were optimistic that the US Federal Reserve (Fed) has completed its cycle of monetary tightening aimed at controlling inflation, while the US economy continues to weaken. display your resilience.
US markets will be closed on Thursday.
The Dow Jones index gained 0.53%, or 184.74 points, to 35,273.03 points. The broader S&P-500 gained 18.43 points, or 0.41%, to 4,556.62 points. The Nasdaq Composite advanced 65.88 points (0.46%) to 14,265.86 points.
IN ASIA
Japanese markets are closed on Thursday.
Chinese indices ended higher on Thursday, as investors await more information on possible new measures to support the economy. The Shanghai SSE Composite gained 0.6%, the CSI 300 0.48%, the Hong Kong Hang Seng index 0.46%.
RATE
US rate markets are closed on Thursday.
The yield on the German ten-year fell by 1.1 basis points to 2.553%.
CHANGES
The dollar erodes after two sessions of gains.
The greenback declined by 0.23% against a basket of reference currencies, while the euro gained 0.16% to 1.0904 dollars, and the pound sterling 0.12% to 1.2507 dollars.
In Asia, the yen strengthened by 0.30% to 149.08 yen per dollar, while the Australian dollar gained 0.31% to 0.6561 dollars.
OIL
Oil is declining as markets continue to digest the unexpected postponement of the next OPEC meeting to September 30.
Brent fell 1.2% to $80.98 per barrel, American light crude (West Texas Intermediate, WTI) lost 1.05% to $76.29.
MAIN ECONOMIC INDICATORS ON THE AGENDA FOR NOVEMBER 23:
COUNTRY GMT INDICATOR PERIOD PREVIOUS CONSENSUS
FR 07:45 Climate of Nov.
business 98 98
FR 08:15 S&P PMI Index Nov.
Overall 43.1 42.8
manufacturer
“flash”
S&P PMI
Overall 45.6 45.2
flash services
S&P PMI
Overall composite 45 44.6
“flash”
FROM 8:30 a.m. S&P PMI Nov.
Overall 41.2 40.8
manufacturer
“flash”
S&P PMI
Overall 48.5 48.2
flash services
S&P PMI
Overall composite 46.5 45.9
“flash”
EZ 09:00 S&P PMI Nov.
Overall 43.4 43.1
manufacturer
“flash”
S&P PMI
Overall 48.1 47.8
flash services
S&P PMI
Overall composite 46.9 46.5
“flash”
GB 09:30 S&P PMI Nov.
Overall 45 44.8
manufacturer
“flash”
S&P PMI
Overall 49.5 49.5
flash services
(Written by Corentin Chappron, edited by Jean-Stéphane Brosse and Kate Entringer)
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