PARIS (Reuters) – Wall Street is expected to be dispersed at the opening on Friday in the absence of major events and after the S&P 500 exceeded 5,000 points on Thursday, while the results liven up a mixed session in Europe.

Futures on New York indices suggest an opening on Wall Street without a clear direction, with the Dow Jones and Standard & Poor’s 500 expected to be stable, and the Nasdaq up 0.21%.

In Paris, the CAC 40 fell 0.13% to 7,655.74 points around 11:23 GMT. The Dax in Frankfurt is looking for direction, compared to an increase of 0.1% for the FTSE in London.

The pan-European FTSEurofirst 300 index is hesitant, compared to an advance of 0.13% for the EuroStoxx 50 and 0.12% for the Stoxx 600.

In the United States, in the absence of data or notable interventions on Friday, markets should continue to digest the latest comments from monetary policy makers, who insisted this week on the caution that the Federal Reserve should exercise before lower its rates.

On Thursday, the S&P 500 index crossed the 5,000 point threshold for the first time, which could help support sentiment.

In Europe, the results continue to drive the indices in the absence of major economic data.

Luxury, one of the main European sectors, reacted to Hermès’ figures, even as L’Oréal disappointed investors.

The final figures for German inflation were also shown in line with their first estimate on Friday, alleviating investors’ concerns that inflation would remain more persistent than expected.

VALUES TO FOLLOW IN WALL STREET

Cloudflare anticipates revenue with a midpoint above the consensus provided by LSEG for the current quarter.

Capri Holdings, the parent company of Michael Kors, reported quarterly revenue and profit below consensus amid weak demand for its luxury brands.

VALUES TO FOLLOW IN EUROPE

Hermès reported a larger than expected increase in its sales in the fourth quarter of 2023 and announced an increase in its prices this year, which pushed the stock up 4.82% and led the luxury sector (+1. 4%) with him.

L’Oréal fell 6.08% while its sales in Asia were considered disappointing, the sales activity to travelers suffering from new regulations taken in China.

Renault nibbles 0.79% during a volatile session, while its partner Nissan Motor lowered its global vehicle sales outlook on Friday in the face of fierce competition from China.

Ubisoft jumped 18.88% after having reported the day before third quarter results slightly higher than forecasts and said it expected a strong increase in net reservations in the fourth quarter.

The steel group Aperam reported on Friday a fall in its profit in 2023 due in particular to the drop in volumes and lower selling prices, in a market that is still “deeply depressed”, which causes the stock to fall by 0 .88%.

Sensor manufacturer AMS OSRAM jumped 18.64% after quarterly turnover higher than its forecasts in a context of strong demand for products intended for automotive applications, particularly from China.

RATE

European yields are stable after the final German inflation figures for January.

The yield on the ten-year Treasury is stable at 4.1637%, while the two-year strengthens by 1.1 bp to 4.4672%.

The yield on the German ten-year rate remains at 2.352%, that on the two-year rate nibbles 1.5 bp to 2.6811%.

CHANGES

Foreign exchange markets remain calm in the absence of important macroeconomic data.

The dollar advanced 0.07% against a basket of reference currencies, the euro lost 0.09% to 1.0766 dollars, and the pound sterling lost 0.1% to 1.2604 dollars.

OIL

Oil is hesitant in a context of persistent geopolitical tensions.

Brent declined by 0.22% to $81.45 per barrel, American light crude (West Texas Intermediate, WTI) stagnated at $76.19.

(Written by Corentin Chappron, edited by Sophie Louet)

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