(Boursier.com) – The New York Stock Exchange is still trading lower three hours ahead of trading, and investors are looking ahead to the start of the season with the release of key data on Wednesday. United States. New health restrictions in China, with the spread of COVID-19, are also weighing on, with new concerns about global economic growth.
Three hours from the end of Wall Street, the Dow Jones decreased by 0.42% to 31,212 points, while the S&P500, the majority lost 1.05% to 3,858 points. and Nasdaq a fall of 2.00% to 11,403 points, weighed down by the decline of “tech” giants, such as You are here (-6.4%) or apple (-1.2%).
Wall Street ended in confusion on Friday after a difficult session, characterized by investor skepticism about the impact that the higher-than-expected job creation rate would have on the Federal Reserve’s monetary policy.
In Europe, the markets were also cautious and closed in the wrong places. In Paris, in CAC40 price lost 0.61% to 5,996 points at 5pm. In Frankfurt, a Dax fell by 1.40% and in London, the Footsie it is stable.
Choices of the week
The release, scheduled for Wednesday, of inflation data for June in the United States will be a key focus this week. The consumer price index is expected to show a rebound from last month’s number, mainly due to higher fuel prices and higher electricity costs.
Investors, looking for information on the Fed’s monetary policy decisions at the end of the month, learned on Friday about the official employment report that also testified to the strength of the labor market.
In terms of publishing company results, banks JPMorgan Chase and Morgan Stanley will begin the second phase on Thursday. According to Citigroup, the company’s profits should be strong in the face of rising inflation and slowing economic growth, which could lead to consolidation in the second half of the year.
Another concern
Markets are affected by the health situation in China, with several Chinese cities announcing new restrictions and lockdowns to combat the COVID-19 outbreak while Shanghai prepares for a new screening campaign.
The dollar rises again
In the foreign exchange market, aeuros, which reached close to the dollar on Friday after the publication of the monthly US jobs report, fell 1.14% to 1.0065. One European currency is mainly punished by the construction of Nord Stream 1, the most important Russian pipeline serving Germany, which is closed for ten days, while the issue of the war in Ukraine raises fears of a long-term stoppage of Russian hydrocarbons. property.
and dollar (+0.99%), for its part, it also benefited from its position as a safe haven with other large investments.
Oil is coming back
Oil prices, penalized by fears of a recession and new health restrictions in China, partially pared their losses. The barrel of Brent fell 0.51% to $106.47 with US light crude (West Texas Intermediate,WTI) 1.10% to $103.60.
Behavior
Twitter an increase of 9.5%. At the end of a long soap opera with twists and turns, Elon Musk finally announced on Friday that he was terminating the deal to buy Twitter for 44 billion dollars (43 billion dollars). The richest man in the world, who runs Tesla and SpaceX, criticizes social networks for not providing accurate data on the number of fake accounts and spam.
Las Vegas Sands (-7.8%), Wynn Restaurant (-8.5%), Melco Restaurant (-12.6%), MGM Restaurant (-3.5%), Bible (-9.5%) is struggling after Macau closed all casinos for the first time in more than two years to stop the spread of COVID-19.
You are here productivity is down 6.4%. The United States Motor Vehicle Safety Agency announced Friday that it will open an investigation into a Tesla car crash that killed two people in Florida.
GlobalFoundries (-5.4%) and STMicroelectronics graphics announced their intention to build a semiconductor factory in France.
Abbott Laboratories (-0.3%) announced Saturday that it will reopen its factory in Sturgis, Michigan, and resume infant formula production there after closing last month due to weather damage.
