Sunday, October 1, 2023

Wall Street closes in green | Oil continues to rise, but is losing steam

Wall Street is expected to fall and European stock markets remain in the redlast week’s euphoria fades at the start ofa week full of meetings of the main central banksincluding that of the US Federal Reserve and the Bank of England.

New York index futures indicate that Wall Street opens with a fall of around 0.10% for the Dow Jones, 0.22% for the S&P 500 and 0.4% for the Nasdaq.

In Europe, where stock markets closed on Friday with their best weekly performance in two months, the CAC 40 lost 1.25%, Frankfurt lost 0.9%, Brussels lost 0.8% and Amsterdam lost 0.7 %.

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Après la perspective d’une fin imminente de la hausse des taux perçue jeudi dans le communiqué de politique monétaire de la Banque centrale européenne (BCE), qui a semblé relever ses taux pour la dernière fois de 25 points de base, les investisseurs attendent prudemment this week the decisions of the central banks of Switzerland (Thursday), Norway (Thursday), the United Kingdom (Thursday), Japan (Friday) and especially the United States (Wednesday).

while a A break in US Federal Reserve (Fed) rates is expected on Wednesday., The Bank of England (BoE) should opt for a 15th increase in the cost of credit on Thursdaybut the market anticipates that this will be the last of the adjustment cycle that began in December 2021.

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If the Bank of England does raise rates, we expect it to be similar to that of the ECB, and subsequent comments indicate that it is likely to do so with increases.

Mohit Kumar

Chief European Economist at Jefferies

UK inflation data due on Wednesday, eurozone inflation data due on TuesdayThey also encourage the market to be cautious, a caution that is reflected in bond yields in Europe, which are rising again.

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