by Mara Vilcu
(Reuters) – Wall Street is expected in the red on Monday and European scholarships retreat to mid -session, at the opening of a week rich in events on geopolitical and economic fronts. Futures in New York indices report an opening down 0.17% for the Dow Jones, by 0.14% for Standard & Poor’s-500 and 0.14% for Nasdaq too.
In Paris, the CAC 40 lost 0.73% to 7,865.76 points around 10:24 GMT. In Frankfurt, the Dax fell 0.32% and in London, the FTSE 100 yields 0.09%.
The Eurostoxx 50 index is down 0.57%, the FTSEUROFirst 300 lost 0.19%and the Stoxx 600 abandons 0.18%.
At the start of the week, all eyes turn to the geopolitical plan. US President Donald Trump will receive his Ukrainian counterpart Volodimir Zelensky and several European leaders, including Emmanuel Macron on Monday on Monday to discuss a peace agreement.
During a brief press conference Friday evening in Alaska (Saturday at night, Paris time), Donald Trump and Vladimir Putin made no concrete announcement on the conflict in Ukraine.
However, the American president has arrained in the position of the Russian president aimed at finding a global peace agreement rather than an initial cease-fire, as Kyiv claimed.
In addition, the major economic event of the week will be the Jackson Hole symposium organized by the Kansas City Federal Reserve from August 21 to 23, during which the president of the Fed, Jerome Powell, is expected to express themselves on the economic prospects and the political framework of the Central Bank.
The markets expect approximately 85% of a decrease of 25 basic points of rates at the Fed meeting on September 17, and anticipate a new relaxation by December.
“We are planning three declines in interest rates in the United States this year, as well as a slowdown in GDP growth, but no recession,” said Mark Matthews, director of research for Asia at Bank Julius Baer in Singapore. “The combination of these two factors should allow the resumption to continue,” he said.
Regarding financial results, investors will closely follow Walmart, Home Depot, and Target, among others, expected this week, in order to determine to what extent commercial uncertainties and inflationary anticipations have affected American consumers.
Values in Europe
Valneva climbs 2.97% after receiving approval to market his vaccine against chikungunya in Canada for people aged 12 and over.
Red lantern of the Stoxx 600, Commerzbank fell by 3.22%, penalized by a lowering of recommendation from Deutsche Bank to “keep” against “purchase”.
RATE
American yields drop on Monday.
The yield of ten -year -old Treasuries fell from 3.3 base points to 4.2946%. The two -year -old abandons 1.9 base points at 3.7399%.
The yield of the German Bund at ten years lost 2.6 base points at 2.7532%. The two -year -old abandons 0.8 base points to 1.9620%.
Changes
The dollar was appreciated on Monday against the Euro and the Sterling book before the meeting between US President Donald Trump and his Ukrainian and European counterparts, while attention also turned to the Jackson Hole symposium to obtain indications on monetary policy.
The dollar earns 0.16% against a basket of reference currencies.
The euro lost 0.17% to 1.1677 dollars.
OIL
Oil prices are in small increases on Monday after falling back into the first exchanges, while the United States did not increase pressure on Russia concerning its oil exports following the Trump-Putin summit in Alaska.
The Brent advances 0.43% to 66.13 dollars per barrel and light American crude (West Texas Intermediate, WTI) takes 0.57% at 63.16 dollars.
(Some data may accuse a slight offset)
(Written by Mara Vîlcu, edited by Augustin Turpin)
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