(New York) Global stock markets advanced confident Tuesday, satisfied with the latest US statistics for October and the health of the US consumer.
The Dow Jones shredded 0.15%, the technology-heavy NASDAQ index 0.76%, and the broader S&P 500 index 0.39%. The latter is now less than a point from his absolute record.
European markets ended a little more divided: Paris (+ 0.34%) and Frankfurt (+ 0.61%) set new records, while London dropped 0.34%, penalized by the rise in bond yields British, and Milan fell 0.23%.
The main indicator of the day, retail sales in the United States were rather well received by investors: they rose 1.7% in October, more than expected, driven by gasoline and electronics, as well as online sales.
The country’s industrial production also grew more than analysts expected, 1.6% in October.
“The market welcomes good macroeconomic data,” notes Alexandre Baradez, analyst at IG France.
“The figures for retail sales in the United States are reassuring after an index of American consumer confidence which fell to the lowest for ten years last week,” he said.
According to Mr. Baradez, “inflationary fears appeared last week, but consumption is not being called into question”.
However, the total amount of retail sales is inflated by inflation, which remains very high.
The markets are also preparing for the announcement of the choice by US President Joe Biden of the name of the next Fed chairman, expected this week.
Outgoing Jerome Powell and Democrat Lael Brainard appear to be the favorites.
In the United Kingdom, the fall in the unemployment rate as well as the statements of the Governor of the Bank of England Andrew Bailey suggest a rate hike as early as December.
On the bond market, the interest rate on the British ten-year debt rose to 0.985%, against 0.96% the day before.
Kering recommended, luxury follows
In Paris, Kering shone (+ 4.36% to 711.20 euros) after raising an analyst recommendation.
The entire luxury sector was well oriented, with gains for LVMH (+ 1.23% to 729.70 euros), Salvatore Ferragamo (+ 1.13% to 19.76 euros) or Swatch (+ 2.15% to 289.90 Swiss francs).
Walmart in shape, but shunned
US retail giant Walmart raised its annual forecast Tuesday after reporting better-than-expected quarterly results. The group has managed to contain the rise in prices at a slower pace than inflation in the United States.
However, it was sanctioned by investors (-2.55% to 143.17 euros), who noted the deterioration of its margins, linked to an increase in its costs.
Hydrogen-filled Thyssenkrupp
German steel and tech giant Thyssenkrupp climbed 12.01% to 10.35 euros on the Frankfurt Stock Exchange, after press reports on the possible IPO of a unit developing projects in the green hydrogen.
Lucid at full power
Lucid, an American group that recently started producing an electric sedan, soared 23.71% on Wall Street, where zero-emission cars are on the rise, after reporting a solid increase in its pre-orders.
THG disillusioned
The share of THG, the cosmetics and dietary supplement group that was the darling of the London stock exchange until last year, has slipped further 8.17% after losing three-quarters of its value since the start of the year.
On the oil, euro and bitcoin side
Oil prices ended in disarray on Tuesday, affected by the strong dollar, but less worried about a possible withdrawal from US strategic reserves by the Biden administration to lower prices.
The price of a barrel of North Sea Brent for January delivery rose 0.44% to $ 82.43.
In New York, a barrel of West Texas Intermediate (WTI) for the month of December lost 0.14% to 80.76 dollars.
The euro continued to fall (-0.43%) to $ 1.1319, the lowest since July 2020.
Bitcoin stumbled 5.66% to $ 60,388.