(New York) World stock markets advanced on Tuesday, driven by several indicators showing that the US economy remains solid, at a time when investors doubt the strength of growth in the world.
Wall Street ended on a very positive note, led by technology: the Dow Jones gained 0.63%, the NASDAQ jumped 1.65% and the S&P 500 climbed 1.15%.
Hesitant for a long time, the European markets finally took the same path: Milan gained 0.58%, Paris 0.43%, Frankfurt 0.21% and London 0.11%.
In terms of US consumption, the main driver of growth, consumer sentiment rose again in June, much more than expected, after falling the previous month to its lowest level since November. Current economic conditions seem better than before, according to the index published by the Conference Board.
Moreover, sales of new homes continued to rise in May, while durable goods orders continued to rise.
The American markets, after very dynamic weeks, had marked time last week in the face of the still martial tone of the central bankers against inflation.
The prospect of still-vigorous growth and a firm response from central banks sent government interest rates up again. The rate on the US 10-year loan rose to 3.77% around 4:50 p.m. (Eastern time), against 3.72% on Monday, and the German at 2.35% against 2.31% on Monday .
On Tuesday, during her institution’s forum in Sintra (Portugal), the President of the European Central Bank (ECB), Christine Lagarde, again assured that “unless there is a significant change in (its) outlook”, the ECB would continue “the rate hike in July”.
Wednesday, M.me Lagarde will speak again, along with the chairman of the American central bank (Fed), Jerome Powell, and the governor of the Bank of England (BoE), Andrew Bailey.
But investors were also able to be satisfied on Tuesday with the new slowdown in inflation in Canada in May (3.4% over one year), in line with expectations.
In the United States, the PCE index, the Fed’s preferred measure for gauging the country’s inflation, will be published on Friday for the month of May.
Airlines fly away
The airline Delta soared (+6.84%) after raising its forecast for the whole of its financial year thanks to an increase in demand and a drop in the cost of fuel. This also benefited other companies such as American Airlines (+5.54%) and United Airlines (+5.08%).
The travel sector followed suit, with cruise lines in particular: Carnival took 8.84% and Royal Caribbean 4.31%.
In Europe, Lufthansa gained 2.89%, IAG 2.61%, Air-France-KLM 1.46%.
Kering buys Creed
The luxury group Kering, which has set its sights on the “high perfumery house” Creed. The action gained 0.66%, progressing in the same proportions as the other stocks in the sector.
Luxury had jumped more strongly during the first exchanges in Europe, boosted by the good prospects for growth in China drawn up on Tuesday by Chinese Premier Li Qiang.
On the side of oil, the euro and bitcoin
Oil prices fell significantly, on a market reassured by the agreement that ended the mutiny in Russia, and again concerned about a possible strangulation of demand in the face of the impact of interest rate hikes interest.
The price of a barrel of Brent North Sea oil for August delivery closed down 2.58% to $72.26.
As for the barrel of American West Texas Intermediate (WTI) of the same maturity, it yielded 2.40% to 67.70 dollars.
The price of the benchmark European contract for natural gas, the Dutch TTF, rose 9.30% to 34.95 euros.
The euro advanced 0.50% to 1.0961 dollars. The yen hit a seven-month low against the dollar at 144.17 yen to the dollar.
Bitcoin gained 1.61% to $30,647.