(New York) U.S. markets ended higher on Friday, thanks to momentum that was for once not limited to tech stocks, while European markets fell cautiously ahead of central bank meetings later in the day. next week.
In New York, the Dow Jones gained 0.13%, the NASDAQ index gained 0.16% and the S&P 500 index gained 0.12%.
Wall Street thus confirmed after the S&P 500 managed on Thursday to close up 20% from its low on October 12, going into a “bull market”, which means that the market is bullish.
Conversely, in Europe, the session ends a week “where investors tried to find the next big catalyst”, without succeeding, summarizes Michael Hewson, analyst at CMC Markets.
Paris lost 0.12%, Frankfurt 0.24%, London 0.49% and Milan 0.41%. Over the week, only Milan is progressing.
“This week, there were very few economic indicators in the United States and the market had to think for itself, for once, which was positive”, commented Quincy Krosby, of LPL Financial.
“We also ended the debt crisis, […] which I thought weighed more on the market than people realized,” which pushed the stock downside, noted Chris Low of FHN Financial.
Upcoming central bank meetings are in the sights of investors. That of the American Federal Reserve (Fed) will be held on June 13 and 14, followed by those of the European Central Bank (ECB) on Thursday and the Bank of Japan on Friday.
After ten consecutive hikes, analysts increasingly expect the powerful US monetary institution to take a break from raising its key rates in June, before another hike in July.
In other economic news, inflation in China was near zero in May as ex-factory prices continued to plunge, a sign of sluggish demand and a complicated business environment.
Debt rates for government bonds were stable in Europe, but rose slightly in the United States: the 10-year loan was trading with an interest rate of 3.74%, against 3.71% Thursday at fence.
Tesla fully charged
Tesla continued to accelerate (+4.06%), the day after the announcement that the manufacturer would open its network of charging stations to General Motors (+1.06%) from the start of 2024. GM also plans to integrate into its models, in 2025, the charging standard used by Tesla.
The news penalized, on the other hand, ChargePoint (-13.22%), operator of the first independent network of chargers in the United States.
Liquefied chemicals
In London, the chemical group Croda fell 12.45% after announcing on Friday that a significant drop in sales at the start of the year would weigh on its annual result.
This warning weighed on all the values of the sector in Europe: Symrise fell by 4.30%, BASF by 1.81%, Bayer by 1.42% and Brenntag by 4.20% in Frankfurt, when Solvay lost 1.74 % in Paris.
Commodities and Currencies
Oil prices eased on Friday as concerns over the strength of demand returned to center stage ahead of an intense week on the front of central bank decisions.
A barrel of Brent from the North Sea, for delivery in August, fell 1.54% to 74.79 dollars.
Its US equivalent, a barrel of West Texas Intermediate (WTI) for delivery in July, fell 1.57% to 70.17 dollars.
The dollar recovered 0.25% against the euro, the European currency being worth 1.0749 dollars.
Bitcoin lost 0.74% to $26,441.