PARIS (Reuters) – Wall Street is expected to fall on Tuesday, while the European stock markets appear dispersed at mid-session, driven by some company results before the publication of the minutes of the Reserve’s latest monetary policy meeting federal (Fed) and Nvidia’s results.

New York index futures suggest an opening down 0.17% for the Dow Jones, 0.18% for the Standard & Poor’s 500 and 0.35% for the Nasdaq.

In Paris, the CAC 40 advanced 0.28% to 7,817.33 points around 11:10 a.m. GMT. The Dax in Frankfurt gained 0.42%, compared to a decline of 0.81% for the FTSE in London.

The pan-European FTSEurofirst 300 index fell by 0.1%, compared to 0.43% for the EuroStoxx 50 and 0.10% for the Stoxx 600.

Some company results drive the indices, such as those of Carrefour in France or HSBC in London.

“For the first time in 10 years, European companies are publishing results below consensus expectations. Negative surprises are limited to -2%, so don’t panic, but it seems appropriate to question the sustainability of margins at this moment in the cycle”, note the strategists at Oddo BHF.

In a context poor in indicators, the markets will be focused on the publication of the minutes of the Fed’s latest monetary policy meeting, which will be published at 7:00 p.m. GMT.

Investors will be attentive to the debates taking place at the central bank, as several series of data have shown in recent weeks that the American economy remains resistant to rate increases.

Nvidia’s results, expected after the close on Wall Street, will be the other key meeting for the markets. Enthusiasm around artificial intelligence explains a good part of the performance of stock markets in the United States, but also in Europe, where the “tech” sector has benefited from advances in the sector.

But the American semiconductor company, at the heart of the bets around AI, will have to reach or exceed an already very optimistic consensus. A bad surprise could be enough to push back indices which reached records in February.


Amazon will join the Dow Jones Industrial Average on February 26, replacing Walgreens Boots Alliance, S&P Dow Jones Indices announced on Tuesday.


Carrefour advances by 5.79% after reporting an increase in its annual turnover on Tuesday and expressing confidence for 2024.

Antin Infrastructure Partners lost 7.13% after Citigroup lowered its recommendation to “neutral” from “buy”.

Nexans increased by 6.46% thanks to Oddo’s raising of its recommendation to “outperform” from “neutral”.

HSBC reported a record annual profit on Wednesday but lower than analysts’ forecasts, as a $3 billion writedown linked to the group’s stake in a Chinese bank dampened the favorable impact of rising interest rates. The stock fell 7.61%.

Glencore loses 3.46% after seeing its Ebitda halve in 2023 due to the fall in raw material prices.


Yields and currencies vary little in a wait-and-see environment.

The ten-year Treasury rate lost 1.5 bps to 4.2596%, while the two-year fell by 2.3 bps to 4.5891%.

The German ten-year yield is stable at 2.372%, that of the two-year rate is unchanged at 2.8%.

On the foreign exchange market, the dollar advanced 0.03% against a basket of reference currencies, the euro lost 0.04% to 1.0799 dollars, and the pound sterling remained at 1.2615 dollars.


Crude prices are falling as markets worry about US monetary policy remaining restrictive for longer than expected.

Brent declined 0.41% to $82 per barrel and American light crude (West Texas Intermediate, WTI) dropped 0.48% to $76.67.

(Written by Corentin Chappron, edited by Blandine Hénault)

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