by Pauline Foret
(Reuters) – Wall Street is expected to rise on Monday like the European stock markets which are progressing significantly at mid-session, like the euro, investors reacting to information from the Washington Post mentioning a project of customs duties by the next Trump administration less aggressive and more targeted than expected.
Futures on New York indices signal an opening on Wall Street higher, indicating a gain of 0.38% for the Dow Jones, 0.75% for the Standard and Poor’s 500 and 1% for the Nasdaq.
In Paris, the CAC 40 gained 2% to 7,435.50 points around 1:10 p.m. GMT. In Frankfurt, the Dax advances 1%. In London, the FTSE 100 was stable, posting a slight gain of 0.02%.
The EuroStoxx 50 index is up 1.62%, the FTSEurofirst 300 is up 0.78% and the Stoxx 600 is up 0.69%.
According to the Washington Post, the president-elect’s advisers are studying plans for tariffs that would apply to all countries but would only concern critical imports.
Current discussions focus on imposing tariffs only on certain sectors deemed essential to national or economic security, adds Washington Post, citing three people familiar with the matter.
“It is not yet clear what ‘critical imports’ mean,” observes Kyle Chapman, foreign exchange market analyst at Ballinger Group, in a note.
“However, it appears that officials are already preparing to water down Trump’s worst campaign promises by reducing the scope of tariffs,” he points out.
Information from the Washington Post focuses on sectors considered to be the most at risk, such as automobiles, luxury goods and semiconductors.
This last compartment also benefits from the announcement on Friday by Microsoft of its intention to invest 80 billion dollars (77.35 billion euros) in data centers usable for artificial intelligence in 2025. VALUES TO FOLLOW ON WALL STREET
VALUES IN EUROPE
The entire European automotive sector climbed 4.2% with the hopes raised by the Washington Post article on customs duties. That of technology jumped 3.5%, with gains of more than 7% for Infineon and STMicroelectronics.
In Paris, luxury values are rebounding: LVMH takes 4.3%, Kering 4.2% and Hermes 4.11%.
For its part, Imerys gained 11.4%, rising to the top of the SBF 120 after the update on the progress of the “chapter 11” procedure of North American Talc entities.
RATE
European bond yields are rising after information from the Washington Post on the future Trump administration’s plans for customs duties.
The yield on the ten-year German Bund rose by more than two basis points to 2.449% while the rate on Treasuries of the same maturity was practically stable, at 4.5935%.
CHANGES
The dollar falls by more than 1% against a basket of reference currencies following information from the Washington Post.
Anticipations of large-scale and widespread customs duties by the Trump administration have weighed on the euro and the yuan in recent weeks and contributed to pushing up the greenback.
On Monday, the euro climbed more than 1% against the dollar, to $1.0422, after hitting a 25-month low on Thursday.
The Chinese offshore yuan gained 0.5% to 7.325 per dollar.
Other currencies considered exposed to United States trade policy are also climbing, such as the Mexican peso and the Canadian dollar.
OIL
Oil prices continue to rise amid increased demand amid falling temperatures on both sides of the Atlantic and speculation about the possibility of new sanctions on Iranian and Russian oil.
Brent rose 0.65% to $77 per barrel and American light crude (West Texas Intermediate, WTI) rose 0.68% to $74.46.
(Written by Pauline Foret, edited by Blandine Hénault)
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