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Financial markets with no real trend on the eve of a busy week

Financial markets with no real trend on the eve of a busy week

The CAC 40 recovered by 0.31% at 9:00 am, opening at 6293.2100 points, after having finished down by 0.03% yesterday. The Swiss stock market also started the session slightly up by 0.18%. In New York, the Dow Jones gave up 0.18% to 33,981.57 points. The Nasdaq advanced 0.87% and the S&P-500 gained 0.18%, closing with no real direction ahead of the US central bank meeting.

 

The Fed is due to announce the conclusions of its two-day monetary policy meeting at 8pm, before the traditional press conference of its chairman, Jerome Powell.

 

The markets are expecting the Fed to continue its wait-and-see approach, despite the excellent economic indicators published in recent weeks.

 

“It will probably be a non-event in which the Fed will keep its monetary policy unchanged without providing any new signals,” Danske Bank’s staff predicted this morning.

 

“For the record, Chairman Powell said at the beginning of the month that the US economy was at an inflection point,” the Danish bank said. “Since then, the economic data has continued to point to a robust economic recovery.

 

Other major events, apart from the Federal Reserve’s monetary policy decisions tonight, include the first estimates of first quarter GDP in the US (Thursday) and Europe (Friday).

 

The day will also be marked by Joe Biden‘s first policy speech to Congress. During his 100 days in office, he is expected to unveil a new support plan of around 1.8 trillion dollars dedicated to health and education, financed from taxes on the richest Americans.

 

In addition, France and Germany have called on the European Commission to examine national recovery plans “as soon as possible” to prevent Europe, weakened by vaccination failures, from falling behind China and the US.

 

The markets also continue to monitor the health situation in India, as unprecedented levels of contamination and a saturated health system are driving an international response to the new wave of the coronavirus epidemic.

 

A week dedicated to business results

 

Investors may also be left on the sidelines by the number of significant corporate earnings announcements this week.

 

Tesla and Advanced Micro Devices (AMD) released their results on Monday evening. US aerospace giant Boeing will do the same halfway through the day.

 

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In Europe, Dassault Systèmes, Deutsche Bank and Sanofi unveiled their accounts this morning.

 

We are also expecting Apple, Amazon, Facebook and Microsoft, who will also be releasing their quarterly reports later this week.

 

For their part, the results of Alphabet and Microsoft were published last night, just after the close of Wall Street. The former reported earnings per share that jumped to $26.3 from an expected $15.8.

 

In contrast, the latter’s results were more disappointing, with better-than-expected earnings per share of $19.5 being offset by lower-than-expected revenue.

 

Lire aussi > PARIS STOCK MARKET : RESISTANCE DRIVEN BY THE US AND CHINESE RECOVERY

 

Photo à la Une :  © Press

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