European stock markets were moving in scattered order Tuesday morning at the start of a session without major meetings and from which most Asian investors remained absent, against the backdrop of growing questions about the future trajectory of inflation.
On Wall Street, around 7.15 a.m., the futures contracts S&P 500 lost 5 points to 4,180 points, those of Dow Jones were up 12 points to 34,020 points, and those of the Nasdaq dropped 47 points to 13,742 points.
In Europe, markets were mixed at mid-session. In London, the FTSE 100 took 49 points to 7,019 points. In Paris, the CAC 40 increased by 37 points to 6,344 points and in Frankfurt the DAX yielded 30 points to 15,206 points.
In Asia, the Tokyo and Shanghai stock exchanges remained closed for public holidays. The Stock Exchange Hong Kong for its part appreciated by 0.6%.
“Even if the Federal Reserve (Fed) insists that its ultra-accommodative monetary policy is exactly what the US economy needs right now, macroeconomic indicators should soon put the Fed in a difficult position,” notes Ipek Ozkardeskaya, analyst at Swissquote.
“The United States posted robust first quarter growth of 6.4% last week. Inflation is knocking hard at the door “, as evidenced by the rise in producer prices, the surge in commodity prices, the shortage of semiconductors or even delays in global logistics”, she adds. .
In this context, “substantial progress in employment in the United States”, whose monthly figures will be released Friday, could “shake the dynamics of the market”, according to her.
U.S. GDP could grow by 7% in 2021, its fastest pace since the early 1980s, New York Fed Chairman John Williams warned on Monday.
However, he considered “important not to exaggerate in the face of (the) price volatility resulting from the unique circumstances of the pandemic” at a time when certain inflationary fears resurfaced.
After accelerating upward last week, the US ten-year rate stabilized around 1.61% on Tuesday morning.
On the health front, the situation in India is increasingly worrying, with more than 20 million cases of COVID-19 recorded on Tuesday and a suffocated health system.
For its part, the United States is expected to authorize Pfizer / BioNTech’s COVID-19 vaccine for children aged 12 and over starting next week.
As for indicators, only the United States’ trade balance for March is on the agenda.
On the oil side
Around 7.15 a.m., the barrel of WTI US dollar rose 1.83% to US $ 65.67 and a barrel of Brent of the North Sea gained 1.91% to US $ 68.85.