(New York) Markets remained well oriented on Friday after the publication of inflation in the United States, which accelerated to a level not seen for nearly 40 years, but as expected by analysts.
The Dow Jones finished up 0.60%, the NASDAQ index, heavily influenced by technology stocks, rose 0.73%, and the broader S&P 500 index gained 0.95% to set a new record historical.
In Europe, the trend was more negative but the slight losses on Friday are out of step with the gains accumulated since the start of the week: Paris fell 0.24%, Frankfurt 0.10%, Milan 0.36% and London by 0.40%.
Inflation accelerated in November year on year in the United States, registering its largest increase since 1982, to 6.8% last month compared to November 2020.
However, this pace is in line with analyst consensus. Investors are hoping November is a peak before a gradual slowdown, as US President Joe Biden suggested the day before.
The market is awaiting the reaction of the US Federal Reserve which is holding its meeting of the Monetary Committee next week, and which should announce a tightening of its policy.
“As long as the Fed is on the ball and not lagging behind, equity markets could go much, much higher,” said Adam Sarhan, founder and CEO of 50 Park Investments.
On the bond market, proof of the serenity of the markets, rates fell despite high inflation, to 1.46% for the 10-year US against 1.48% at the close the day before.
Besides rising prices, other risks remain on the table, between the Omicron variant, fears of a slowdown in Chinese growth next year, under pressure from its over-leveraged real estate sector and the threat of an offensive. Russian military against Ukraine.
The markets “fear that some governments will overreact” to the Omicron variant, “at the risk of worsening supply chain problems,” said Michael Hewson, analyst at CMC Markets.
The clues had jumped at the beginning of the week with the first information showing a lesser dangerousness of the Omicron variant which had them scared for a time.
Daimler Truck listed on the Frankfurt Stock Exchange
Daimler (+1.43% to 74.25 euros) on Friday introduced its heavy-duty division Daimler Truck on the Frankfurt Stock Exchange and will continue its history under the name of Mercedes-Benz by focusing on its luxury sedans. Daimler Truck started with an initial price of 28 euros, before ending at 29.79 euros, valuing the company at more than 24 billion euros.
Platoon lead by Sex and the City
The luxury exercise bike company Peloton has had a hard time (-5.38% to 38.51 dollars) the death of Mr. Big, one of the characters in the series Sex and the City, on a brand device, in the first episode of what is the equivalent of the seventh season of the cult series.
Peloton reacted with the voice of a renowned cardiologist, member of the scientific board of the company, who explained, in the tone of humor, that this death was undoubtedly due to the various excesses of the character rather than to the use of an exercise bike.
Moderna flu, Sanofi takes advantage
Moderna slipped (-5.57% to 257.06 dollars) after the publication of the first results of a clinical study on its flu vaccine. If the data are encouraging, they are close to those of its competitors.
In France, Sanofi, which produces its own influenza vaccines, rose 2.90% to 86.53 euros.
On the oil, euro and bitcoin side
Oil prices ended up on Friday, posting their best week since August, despite their correction the day before in a market disoriented by uncertainties around the Omicron variant.
The price of a barrel of Brent from the North Sea for February delivery rose 0.98% to $ 75.15.
In New York, a barrel of West Texas Intermediate (WTI) for the month of January rose 1.02% to $ 71.67.
The euro appreciated 0.20% against the US dollar to 1.1316 dollars.
Bitcoin was down 0.24% to $ 47,994 after gaining more than 3% when US markets opened.