Stock Market: What’s Moving in the Markets Ahead of Friday’s Open

Market reviews. Stock markets on Friday applauded the announcement of an easing of several measures against the COVID-19 in China, while continuing to experience a stronger-than-expected slowdown in U.S. inflation.

Asian markets had a buoyant session on Friday: Hong Kong rose 7.7%, Tokyo rose 2.98%, after Western markets clearly welcomed the decline in price increases in the United States on Thursday.

They were encouraged by China’s announcement of an easing of some measures against Covid-19, notably the reduction of quarantine from ten to eight days upon arrival in the country.

European markets sought to maintain the momentum created by a slowdown in inflation in the US, raising hopes that the US Federal Reserve will slow the pace of its next rate hikes.

Wall Street was expected to be in the green the next day after an upbeat session. Futures are pointing between 0.44% and 0.55% above the open.

Stock market indices at 7:30 am

Futures contracts Dow Jones 120.00 points (+0.36%) to 33,832.00 points. Futures contracts S&P500 It increased by 14.25 points (+0.36%) to 3,975.25 points. Futures contracts Nasdaq It increased by 48.25 points (+0.41%) to 11,680.50 points.

In London, the FTSE 100 33.46 points (-0.45%) down to 7,341.88 points. In Paris, the CAC 40 It increased by 18.41 points (+0.28%) to 6,575.24 points. In Frankfurt, the DAX It increased by 55.80 points (+0.39%) to 14,201.89 points.

In Asia, the Nikkei Tokyo advanced 817.47 points (+2.98%) to 28,263.57 points. For his part, the Hang up Cheng Hong Kong gained 1,244.62 points (+7.74%) to 17,325.66 points.

On the oil side, the price per barrel WTI American Up US$2.76 (+3.19%) to US$89.23. Barrel North Sea Brent Up US$2.73 (+2.91%) to US$96.40.

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Thursday’s news of a stronger-than-expected slowdown in U.S. inflation in October sparked a frenzy of stock-buying orders, a slide in government bond yields and a weaker U.S. dollar.

“Maybe there is light at the end of the inflationary tunnel?” asks Neil Wilson, analyst at markets.com.

With falling inflation and a slowing economy, investors believe the US Federal Reserve may slow its monetary tightening cycle.

In the sovereign debt market, yields tightened on Friday after falling the previous day.

Investors will look at an indicator measuring U.S. consumer confidence for November in the afternoon (University of Michigan).

News of easing international arrivals in China lifted values ​​in the luxury sector, which also appreciated the strength of the Swiss giant’s half-year sales. Richmond (+9.15%), owner of jewelry house Cartier.

Through it Prada (+9%), Moncler And Swatch (+3%) as well Salvador Ferragamo (+5%) drawn upwards LVMH It was up more than 2% by 6:55 a.m. Quebec time.

in the air, Air France-KLM took 4.78%, EasyJet (+3.33%) and Lufthansa (+2.07%).

In basic sources, ArcelorMittal Paris, Rio Tinto and advanced 2.58% BHP group London rose by more than 4%.

Data related to Thales, which the Lockbit 3.0 team said had been stolen, was published online on the dark web on Thursday, and the security and technology group learned on Friday that it had “no impact on its business”, which did not convince investors. Action fell 6.35% in Paris, below the CAC 40 index.

The US dollar fell again on the day after its worst session in seven years, weighed down by weaker year-on-year inflation in the US, while the pound was hurt against the euro by a contraction in British GDP.

At 6:30 am, the dollar index, which compares the greenback against a basket of other major currencies, was up 0.89% at 107.23 points. In two sessions, it is down around 2.95%.

The euro rose 0.68% to US$1.0283.

The British pound was up 0.30% at US$1.1751, but was down 0.44% against the euro at 87.52 pence.

Bitcoin fell 2.54% to USD 17,355. Investors were eyeing the potential impact of woes in the cryptocurrency industry after the biggest exchange, Binance, abandoned its purchase of cash-strapped rival FTX, which it had to bail out.

Oil prices were supported by China’s easing of anti-Covid restrictions.