A Wall Street signaling panel
by Claude Chendjou
Wall Street is expected slightly on Tuesday and European scholarships are also timidly in the green in mid-session while the hope of falling interest rates in the United States is strengthening after disappointing macroeconomic indicators.
The day’s meeting is also marked by many business results, including those of Caterpillar, considered a reliable barometer of the American economy, while in Europe, BP, Diageo and DHL have published. Futures in New York indices report statility for Dow Jones, an increase of 0.26% for Standard & Poor’s 500 and 0.38% for the Nasdaq at the opening while Wall Street recorded its best session on Monday since May 27 and recovered the losses suffered Friday following the publication of the monthly report on American employment.
In Paris, the CAC 40 earns 0.26% at 7,651.7 points around 11:20 a.m. GMT. In Frankfurt, the Dax advances 0.74% and in London, the FTSE took 0.43%.
The pan -European FTSEUROFirst 300 index increased by 0.43% and the Eurostoxx 50 in the euro zone of 0.40%. The Stoxx 600 advances 0.46%, most of its compartments being in the green.
In the wake of the rebound started on Monday on cheap purchases after the fall on Friday, the stock market indices continue to be well oriented on Tuesday, while bond yields in the euro zone and the United States are stable.
According to the Fedwatch barometer of CME Group, the probability of a drop in rates in September of the American Federal Reserve (Fed) is now about 94%, compared to 63% last week. Market operators anticipate at least two drops in a quarter -point rate by the end of the year.
On the commercial front, a senior European Union official (EU) said that the block was close to finalizing a joint declaration with the United States on customs duties, which also reassures.
“The lifting of uncertainty is a factor that helps European markets, even if the customs duties rate is probably a little higher than what market players or European officials have waited or hoped to see,” said Amélie Derambure, multi-active portfolio manager at Amundi.
The fear index to Wall Street is still refused on Tuesday, under the 18 points, while its equivalent on Eurostoxx abandons more than 6%, also close to the 18 points.
Regarding business activity, the PMI S & P/HCOB composite index in the euro zone, published on Tuesday, increased slightly to 50.9 in July, while in Great Britain, it was revised upwards, from 51.0 to 51.5, from encouraging signals before the publication at 2:00 p.m. GMT of the ISM of the United States.
As for production prices (PPI) in the euro zone, they emerged in accordance with expectations, with an increase of 0.8% in June after a contraction of 0.6% in May.
The values to follow at Wall Street
Caterpillar reported on Tuesday of a drop down in the second quarter, penalized by a sluggish request for its construction equipment and by increased costs linked to American customs duties.
Pfizer is advancing 3.7% after noting its profit forecast on Tuesday for the whole year on a large demand for its medicine against heart disease, Vyndaqel, and for its anticoagulant, Eliqui.
Palantant Technologies climbs 5.4% thanks to the recovery of its forecast of annual turnover for the second time since the start of the year.
Values in Europe
Eutelsat jumped 5.26% after the publication of a turnover and an annual adjusted EBITDA greater than analysts’ expectations.
Maurel & Prom rises 3.83% after the publication of its results in the first six months of the year.
Diageo granted himself 1.68%, the world’s leading manufacturer of spirits who said to target stable sales in 2026 despite the impact of customs duties. The British group has also raised its goal of savings.
BP increased by 2.66% after a second quarter better than expected. The group will also re -examine its assets and costs.
Fresnillo won 4.14%, the money producer having announced positive results in the first half.
Smith+Nephew flies 14.25%, the British manufacturer of medical products having posted an increase in his profit in the first half and announced a new share buy -back program of $ 500 million.
Hugo Boss advances by almost 1% after reporting a quarterly operating profit slightly higher than expectations.
Infineon (+4.49%) is carried by the recovery Tuesday of its annual forecasts after a quarter better than expected.
DHL is in red despite confirmation of its 2025 forecasts. The group, however, stressed that the customs duties agreement between Brussels and Washington was likely to have an impact on European flows from Europe to the United States.
Continental yields 1.95% after having reported Tuesday of a beneficiary margin in the second quarter slightly lower than expectations for its main activity of tires.
RATE
Sovereign bond yields in the euro zone are again stable on Tuesday with a German bund at ten years which appears at 2.63%, after the figures of PMIs.
Ing analysts point out that economic data in the euro zone seem to indicate a recovery in the block. The yield of American treasury bills at ten years also varies, taking two base points, at 4.21%. He had fallen by 14 base points on Friday, his strongest decrease since April 3, following the publication of the monthly report on American employment.
CHANGES
The dollar rebounds on Tuesday 0.18% against a basket of international currencies, after the strong fall linked to the employment report and before the ISM publication on services.
The euro fell 0.29%, to 1.1539 dollars, while the pound sterling exchanges at 1.3277 dollars (-0.06%), two days from the monetary policy of the Bank of England (BOE).
OIL
The petroleum market is withdrawn on Wednesday, the raising of OPEC+ supply and fears about world demand weighing on prices.
Brents refused 1.02% to 68.06 dollars per barrel and light American crude (West Texas Intermediate, WTI) sold 1.21% to 65.49 dollars.
Main economic indicator remaining at the agenda of August 5:
Pays GMT indicator previous consensus period
USA 2:00 p.m. ISM index of the Services July 51.5 50.8
(Written by Claude Chendjou, edited by Augustin Turpin)