by Mara Vilcu

(Reuters) – Wall Street is expected in the red on Thursday and European scholarships are retreating in mid -session, while the markets await the symposium of central bankers in Jackson Hole, organized by the American Federal Reserve (Fed).

Futures in New York indices report an opening down 0.30% for Dow Jones, 0.14% for Standard & Poor’s-500 and 0.07% for NASDAQ. In Paris, the CAC 40 lost 0.53% to 7,930.79 points around 10:07 am GMT. In Frankfurt, the Dax fell 0.17% and in London, the FTSE 100 yields 0.22%.

The Eurostoxx 50 index is down 0.40%, the FTSEURofirst 300 lost 0.30%and the Stoxx 600 abandons 0.30%.

Central bankers meet from Thursday and for two days in Jackson Hole, Wyoming, for the Fed symposium. The highlight of the meeting, the speech scheduled for Friday at 2:00 p.m. GMT from the boss of the American central bank, Jerome Powell.

The main theme of the symposium will be the job market, which relieves certain investors who feared that political decision -makers will focus on inflation or the sensitive question of the independence of central banks, said Toshinobu Chiba, fund manager at Simplex Asset Management.

“Many active fund managers, including myself, thought that central bankers could adopt a more restrictive position at this meeting,” he added. “But if we look at this theme, the probability of such a scenario has faded”.

The “minutes” of the Fed, published on Wednesday, showed that only two officials of the central bank had openly pleaded for a drop in rates last month and that the other FOMC members remained concerned about inflation. Furthermore, after continuing his attacks on Jerome Powell earlier in the week, US President Donald Trump targeted the Fed Lisa Cook governor on Wednesday, demanding his resignation due to accusations targeting her for false main residence declaration.

Lisa Cook said that she had “no intention of being intimidated to resign”. The values ​​to follow at Wall Street

COTY falls 21% in the trade in pre-bourse in the wake of its quarterly results published Wednesday evening. The group has planned a drop in sales for the current quarter due to the low demand for beauty products in the United States and reports an unexpected loss for its fourth quarter.

Values ​​in Europe

In the wake of Coty, L’Oréal (-1.46%) is among the strongest folds in CAC 40.

In Frankfurt, CTS Eventim drops 18.87%, red lantern of the STOXX 600, after the publication of results for the second quarter in expectations.

RATE

Bond yields are in small increases before the large raout of central bankers in Jackson Hole.

The yield of Treasuries at ten years is advancing from 1.2 base points to 4.3082% and the German Bund rate of the same due date takes two base points at 2,7372%.

Changes

The dollar is practically stable in the face of a basket of reference currencies, the trades opting for caution before the declarations of Jackson Hole.

The euro earns 0.05% to 1.1657 dollars. The single currency did not react to the publication in the morning of PMI indicators which showed a surprise improvement in the activity of the private sector of the block in August.

OIL

The crude prices are progressing for the second session in a row, thanks to a drop in weekly crude crude stocks in the United States which suggests a strengthening of demand while uncertainties surrounding conflict resolution in Ukraine provide support.

Brent took 0.88% at 67.43 dollars per barrel and American light crude (West Texas Intermediate, WTI) advances from $ 63.31 to $ 63.31.

Main economic indicators at the agenda of August 21:

Pays GMT indicator previous consensus period

USA 12:30 p.m. Weekly registrations week at 225,000 224,000

Unemployed August 11

USA 12:30 p.m. Philly Fed index August 7.0 15.9

EZ 2:00 p.m. Consumer confidence August -14.9 -14.7

(flash)

(Some data may accuse a slight offset)

(Written by Mara Vîlcu, edited by Blandine Hénault)

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