The Wall Street sign at the New York Stock Exchange in the Manhattan district
by Coralie Lamarque
Wall Street is expected to be in the green and the European stock markets remain in dispersed order on Monday at mid-session, the craze for technology offsetting the situation in the Middle East as negotiations bog down and strikes took place this weekend. Futures on New York indices – signal an opening on Wall Street up 0.54% for the Dow Jones, 0.3% for the Standard & Poor’s-500 and 0.23% for the Nasdaq. In Paris, the CAC 40 gained 0.12% to 8,192.96 points around 11:31 GMT. In Frankfurt, the Dax advanced 0.39%, while the FTSE 100 in London lost 0.11%.
The EuroStoxx 50 index rose by 0.08%, while the FTSEurofirst 300 – fell by 0.09% and the Stoxx 600 by 0.15%.
After a weekend at unprecedented heights thanks to technology, the sector should once again take the session across the Atlantic, with in particular Nvidia and Dell which respectively unveiled a “new AI chip and a new affordable laptop, both in the hope of competing with Apple” among others.
Investors are also awaiting a decision from American President Donald Trump regarding the extension of the ceasefire between Washington and Tehran, in addition to a lifting of restrictions on navigation in the Strait of Hormuz, a vital artery for global oil supplies including The interruption due to the conflict has caused a surge in energy prices and inflationary fears across the globe.
The hopes of the operators, however, come up against the events of the weekend, the American army having carried out so-called “defensive” and “measured” strikes in Iran against drone command sites, accusing Tehran of “aggressive” actions.
“Even though there have been attacks from both sides, the market is clinging to the idea that negotiations are continuing and that a long-awaited agreement between Iran and the United States, aimed at ending the war in the Middle East and reopening the Strait of Hormuz, will eventually see the light of day,” said Kathleen Brooks, director of research at XTB.
In addition to geopolitics, investors will also be watching the macroeconomy this week, starting with the final PMI releases.
In the eurozone, growth in eurozone manufacturing activity lost momentum in May as demand for goods stagnated and supply chain disruptions linked to conflict in the Middle East pushed input costs to their highest level in four years, a report shows. investigation published Monday.
The final publications of the European PMIs precede those of the American ISM index at 2:00 p.m. GMT.
PATROL
In the absence of announcements concerning a reopening soon of the Strait of Hormuz and under the effect of the strikes in the Gulf, oil prices are starting to rise again.
Brent rose by 2.86% to $93.73 per barrel and American light crude (West Texas Intermediate, WTI) increased by 3.56% to $90.47.
Separately, the Fars News Agency reported Monday that the Iranian Revolutionary Guard Corps Navy – said 15 ships, including four oil tankers, were able to pass through the Strait of Hormuz after obtaining permission – from Iran in the last 24 hours.
VALUES TO FOLLOW AT WALL STREET
VALUES IN EUROPE
In Paris, Vusion climbs almost 9% following a change of recommendation by Exane BNP Paribas.
Elsewhere in Europe, easyJet soars – by more than 8%, as the British budget airline said it would consider any takeover proposal from Castlelake, while calling the timing of the US investment firm “highly opportunistic”.
The craze for technological stocks allowed the compartment to record the best performance, with a gain of 1.2%.
RATE
Bond yields are rising, driven by inflationary fears linked to the situation in the Middle East.
The yield on ten-year Treasuries increased by 0.8 basis points to 4.4610% and two-year Treasuries by 1.9 basis points to 4.0328%.
The ten-year German Bund yield rose 4.9 basis points to 2.9807%, while the two-year yield gained 6.3 basis points to 2.5930%.
CHANGES
The stagnation of negotiations between Washington and Tehran benefits safe haven values such as the greenback.
After a drop of 0.4% last week amid hopes of an extension of the truce in the Middle East, the dollar gained 0.15% against a basket of reference currencies, while the euro lost 0.1% to 1.1647 dollars.
MAIN ECONOMIC INDICATORS ON THE AGENDA FOR MONDAY, JUNE 1:
COUNTRY GMT INDICATOR PERIOD PREVIOUS CONSENSUS
US 14h00 ISM manufacturier (final) mai 53,0 52,7
THE SITUATION ON THE MARKETS
(Some data may show a slight lag)
(Written by Coralie Lamarque, edited by Augustin Turpin)
