2024-08-07 03:35:27
After a dark Monday on financial markets amid recession fears in the United States, European stock markets were flat on Tuesday. They ended up scattered: Paris lost 0.27% and Milan 0.60%, while London increased slightly by 0.23% and Frankfurt ended up close to balance (+0.09%).
In Tokyo, the main stock index, Nikkei, rose 10.23% on Tuesday the day after the fall of 12.4% and the worst fall in a number of points in its history.
The New York Stock Exchange opened higher on Tuesday. In early trading, the Dow Jones index gained 0.08%, the Nasdaq Composite gained 0.47%. Around 6:40 p.m., the Dow Jones showed +1.24% and the Nasdaq +1.80. % Wall Street, which sets the tone for financial markets, ended its session on Monday with the worst fall, two of these three main indexes have experienced the worst session in two years.
Currencies, raw materials have fallen
Faced with a higher-than-expected unemployment rate and a lower-than-expected number of job openings in the United States, markets are afraid to see this as a sign of too much strength in the economy. American.
Fears of a recession in the United States then “sent investors to dump risky assets, including cryptocurrencies, stocks, stocks and risky currencies,” said John Plassard, an expert in investment for Mirabaud explained.
But late Tuesday afternoon, bitcoin regained ground (+3.56%) and was trading for $56,329.
Labor data ‘doesn’t look like a recession yet’
“The change of trend” observed in the markets “appears to coincide with the comments from Austan Goolsbee,” the president of the Federal Reserve of Chicago, who told CNBC the day before that the activity data “does not seem for the time just for a time. recession” and the Fed “may wait for other data before the September meeting”, indicated analysts at Deutsche Bank.
Moreover, the activity in jobs in the United States began to grow again in July, according to the index published on Monday and this data “may well have contributed to change the markets that the job report is not as bad as they are you afraid,” they continued.
As for oil prices, the price of a barrel of Brent from the North Sea for delivery in September gained 0.59% to 76.75 dollars and its American equivalent, the barrel of West Texas Intermediate (WTI), for delivery in the same month, took 0.70%. up to 73.45 dollars around 5:50 pm.
On the bond market, the interest rate on ten-year US government bonds rose to 3.86%, compared to 3.79% on Monday. The German rate in the same growth was stable at 2.19%.
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