by Diana Mandia

(Reuters) – Wall Street is expected to rise and European scholarships are progressing in mid -session on Thursday, blocking by an American Federal Court of Customs Rights imposed by President Donald Trump stimulating the feeling of the market despite persistent uncertainties.

Futures in New York indices report an opening of Wall Street up 0.53% for Dow Jones, 1.07% for Standard & Poor’s-500 and 1.56% for NASDAQ. In Paris, the CAC 40 earns 0.63% at 7,837.43 points around 10:55 a.m. GMT. In Frankfurt, the Dax advances 0.28% and in London, the FTSE 100 is rather stable (-0.05%).

The Eurostoxx 50 index takes 0.53%, the FTSEUROFIRST 300 0.27% and the Stoxx 600 0.25%

The International Commercial Court called in question in question the commercial policy of Donald Trump on Wednesday, judging that the president had exceeded his powers by imposing reciprocal customs duties last April, which relaunches the appetite for the risk and supports the equity markets.

Although the White House has already appealed the decision, it gives investors that Washington will return to the high levels of customs duties initially announced and which have shaken the world financial markets in April.

The respite should however be rather temporary, in a context of increased uncertainty by the incessant back and forth of the White House in terms of commercial policy.

“Although volatility has diminished for the moment, the lack of clarity concerning the government’s response could rekindle the turbulence of the market. As long as the Supreme Court has not returned a final stop, it is unlikely that we will attend a lasting resolution,” warned James Leong, Director General of Grasshopper Asia.

According to Goldman Sachs analysts, Deutsche Bank and Panmure Liberum, Donald Trump could use other laws to pursue his trade policy.

The quarterly sales higher than the expectations of Nvidia also contribute to the feeling, despite a turnover forecast for the second quarter slightly lower than the estimates, while the flea manufacturer is faced with the strengthening of American restrictions on the exports of his artificial intelligence chips to China.

Investors await this Thursday, the publication of a certain number of American macroeconomic data, such as the second estimate of GDP in the first quarter. The first had shown a surprise contraction under an import avalanche aimed at avoiding higher costs due to customs duties.

The values ​​to follow at Wall Street

NVIDIA took 5.4% in a forefoot after the group of semiconductors reported on Wednesday evening a turnover greater than analysts’ estimates.

Values ​​in Europe

The semiconductor sector is progressing in the wake of Nvidia. The technological values ​​compartment takes 0.81% with increases from 2% to 3% for Besi, ASML and Stmicroelectronics.

Luxury is also in green, Kering, LVMH and Hermes taking between 1.4% and 2% and pulling the European luxury compartment which earns 0.88%.

The European automobile index, one of the sectors most sensitive to customs duties, is advancing for its part of 0.86%, carried in particular by increases from 2% to 3.4% for Forvia, Valeo and Stellantis.

Rate Bond returns increased Thursday in the euro zone, the decision of the United States court on customs duties encouraging investors to abandon the refuge values ​​for the benefit of risky assets such as shares.

The yield of the German Bund at ten years takes 3.3 base points at 2,5820%. The two years advances 2.2 base points at 1.8210%.

In the United States, the yield of Treasuries at ten years takes 5.4 base points at 4.5330%. The two years has an increase of 3.5 base points at 4.0272%.

The longer term yields, at 30 years, remain above 5% under the anticipation of the Donald Trump bill on tax reductions, under examination in the Senate.

Changes

The dollar earns 0.07% in the face of a basket of reference currencies, the decision of the American justice on customs duties offering some respite to the American currency, heavily penalized this year due to commercial uncertainty. The dollar earns 0.07% against a basket of reference currencies. The euro lost 0.09% to $ 1.1282.

OIL

Oil prices are growing on Thursday, although a possible OPEC+ decision this weekend on the increase in production in July reduces the extent of the increase.

Brent took 0.39% to 65.15 dollars per barrel and American light crude (West Texas Intermediate, WTI) 0.36% at 62.06 dollars.

Main economic indicators at the May 29 agenda:

Pays GMT indicator previous consensus period

US 12:30 p.m. GDP Second T1 estimate -0.3% -0.3%

US 12:30 p.m. Inflation PCE T1 – 3.6%

PCE inflation “Core” T1 3.5% 3.5%

US 12:30 p.m. Weekly registrations at the 230,000 227,000 week

unemployment May 19

(Some data may accuse a slight offset)

(Written by Diana Mandiá, edited by Augustin Turpin)

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