*
The Dow Jones expected to fall by 0.32%, the S&P 500 by 0.54%, the Nasdaq by 0.87%
* The CAC 40 drops 0.57% mid-session, the Stoxx 600 0.21%
*
Meta results disappointed and put pressure on technology stocks
* US GDP and PCE inflation in the market viewfinder
Paris, April 25 (Reuters) – Wall Street is expected to fall on Thursday, while European stock markets fall mid-session with the exception of the FTSE, driven by results and while key indicators will be published this week.
Futures on New York indices suggest Wall Street opening in the red, with the Dow Jones falling 0.32%, while the Standard & Poor’s 500 loses 0.54% and the Nasdaq 0.87%.
In Paris, the CAC 40 dropped 0.57% to 8,045.62 points around 09:38 GMT. The Dax in Frankfurt declined by 0.59%, compared to an increase of 0.54% for the FTSE in London, supported by stocks linked to raw materials.
The pan-European FTSEurofirst 300 index fell by 0.21%, compared to 0.48% for the EuroStoxx 50 and 0.21% for the Stoxx 600.
The results liven up trading, while the figures from Meta, one of the “magnificent seven”, disappointed on Wednesday, pushing down technology stocks, which contributed to the good performance of global markets in 2024.
In the United States, GDP for the first quarter is expected at 12:30 GMT, while activity is maintained despite rate increases by the Federal Reserve. An upward surprise could weigh on markets, as it would remove the prospect of a central bank rate cut.
On Friday, PCE inflation, the Fed’s favorite indicator of price dynamics, will be released. Here again, an indicator higher than expected would be bad news for all assets which will have to integrate restrictive rates for longer than expected.
VALUES TO FOLLOW IN WALL STREET
Meta Platforms dashed investors’ hopes on Wednesday by announcing both stronger-than-expected spending this year to support its efforts in artificial intelligence (AI) and a second-quarter revenue forecast below market expectations. . Amazon.Com, Alphabet, Nvidia and Microsoft are retreating in Meta’s wake.
Apple ceased to be China’s top smartphone seller in the first quarter, according to preliminary data released Thursday by analytics firm IDC.
VALUES TO FOLLOW IN EUROPE
BNP Paribas varies little and is up 0.19%, after reporting a drop in its results on Thursday while exceeding expectations in the first quarter.
Sanofi reported on Thursday a drop of 14.7% in its operating income from activities in the first quarter, which nevertheless came out beyond expectations, which pushed the group forward by 4.32%.
Dassault Systèmes reported on Thursday a 6% increase in its turnover in the first quarter, slightly below analysts’ forecasts, and lost 4.85%.
Atos fell 7.64% after warning on Thursday that it needed additional liquidity and that it would therefore revise its refinancing plan presented only two weeks ago.
Unilever recorded a 4.4% increase in underlying sales in the first quarter, above expectations, and grew by 5.15%.
Barclays reported on Thursday a 12% fall in its first quarter profit, in line with expectations, and increased by 3.68%.
BHP announced Thursday that it had submitted a $38.8 billion buyout offer to Anglo American, which caused Anglo American to jump 12.49%.
Delivery Hero climbs 10.37% after raising its annual revenue forecast on Thursday, after recording better than expected growth in the first quarter.
Sabadell exceeded net profit forecasts in the first quarter, rising 12.09%.
CHANGES
The dollar continues its decline against the euro, the single currency benefiting from the good activity indicators published in recent days.
The dollar fell by 0.24% against a basket of reference currencies, the euro strengthened by 0.22% to $1.072, and the pound sterling gained 0.45% to $1.2517.
RATE
Yields vary little on both sides of the Atlantic, with investors positioning themselves for the release of US GDP on Thursday and PCE inflation on Friday.
The German ten-year yield weakened by 1.2 bp to 2.574%, that of the two-year rate lost 1.1 bp to 2.953%.
The yield on the ten-year Treasury fell by 1 bp to 4.6439%, while the two-year fell by 1 bp to 4.9269%.
OIL
Crude is hesitating, with markets worrying about tensions in the Middle East while the latest figures from the Energy Information Administration showed on Wednesday that diesel inventories in the United States had fallen less than expected.
Brent is stable at $88.09 per barrel, American light crude (West Texas Intermediate, WTI) remains at $82.83.
MAIN ECONOMIC INDICATORS ON THE AGENDA FOR APRIL 25: COUNTRY GMT INDICATOR PERIOD PREVIOUS CONSENSUS USA 12:30 Weekly weekly registrations at 215,000 212,000
unemployment April 20 USA 12:30 p.m. Gross domestic product (GDP) Q1 +2.4% +3.4%
at an annualized rate (1st
estimate) (Written by Corentin Chappron, edited by)
