This morning, the subject of all attention was a series of statistics, whose publication was scheduled at 8:30 am precise, New York time (2:30 p.m. in Paris): the consumer price index. In a country where consumer confidence can vacillate the IPF president of the President of the President, the IPC is both Talisman and the threat. Economists anticipated “core” inflation of 3% in July: a pace sufficiently moderate to justify the drop in rate of a quarter of a point expected in September. However, the published figure turned out to be slightly higher.
The US inflation data in July show that the “Core” IPC increased by 3.1%over a year, slightly above expectations (3.0%), while the monthly increase corresponds to the forecasts, to 0.3%. The Global IPC, it increased by 2.7% over a year, a little less than the 2.8% anticipated, and 0.2% over a month, online with projections. This mixture of figures suggests that, if some inflation pockets persist, the general trend for disinflation continues. The American economy therefore always sees its prices grow faster than the 2% objective set by the Fed, but the absence of upward surprise on the monthly data could calm the fears of a re-acceleration.
For the federal reserve, this report maintains the hypothesis of a drop in rates, without however guaranteeing an aggressive relaxation. The slight overheating of the “Core” could encourage caution, favoring a gradual approach later in the year rather than an immediate and massive reduction. The markets have interpreted these figures as generally favorable to a monetary softening: the trajectory of inflation remains downward oriented, despite this little overtaking. On the publication, US stock contracts climbed: +0.51 % for the Dow Jones, +0.61 % for the S&P 500 and +0.70 % for the NASDAQ 100.
On the markets, nervousness is exacerbated by a conjunction of singular events. First, the commercial choreography with China: on Monday, the two countries extended their pricing truce until November 10: a diplomatic gesture that looks less like relaxation than a provisional ceasefire. Without this, hundreds of billions of dollars of goods would have been struck by customs duties, raising prices … and tensions.
Next comes the job market, which has become the turbulent child of the American economy. In early August, a lower than expected employment report has shaken anticipations, and Donald Trump dismissed the commissioner of the Bureau of Labor Statistics. Reason: data deemed wrong, and revised downwards thereafter. In the process, Trump has appointed EJ Antoni to succeed him, a profile that the markets already scrutinize to detect if he will favor statistical orthodoxy or political flexibility.
The mood of the market is not only in concern, it is tinged with a certain optimism. The S&P 500 flirts with its records, supported by a cocktail of technological results above expectations, a thaw in international trade and the attractive perspective of lower rate.
On the values side, Intel flew by 3% before the opening, after its CEO LIP-BU Tan emerged from a meeting with Trump not only unscathed but publicly praised, a few days after calls to his resignation. Palo Alto Networks progresses after a recovery of Piper Sandler recommendation, while Circle Internet jumped after a solid quarterly report. The Canadian Gildan Activewear would be close to a 5 billion agreement to buy Hanesbrands, propelling the latter’s title of 45% in one session.
The quotes of the day:
- Dollar Index: 98,339
- Or: 3 350 USD
- Crude oil (BRENT): 66,23 USD (WTI) 63,48 USD
- UNITED STATES 10 ans: 4,29 %
- BITCOIN: 118 995 USD
Business news:
- Ecolab will acquire Ovivo’s electronic division for 1.8 MDUSD to develop its ultra-pure water technology for the manufacture of semiconductors. The transaction should be finalized in the first quarter of 2026.
- Citizens Financial Group appointed Aunoy Banerjee, formerly at Barclays, as a financial director from October 24.
- Pfizer and Merck have announced that the association of Padcev and Keytruda had considerably improved the survival of certain patients with invasive bladder cancer in the context of a phase 3 trial, which makes it the first treatment to obtain this result before and after surgery.
- We Holding noted its annual sales forecasts after exceeding its turnover targets in the second quarter, thanks to the promotion of its brands, price increases and high demand in the United States.
- Cardinal Health will acquire Solaris Health for 1.9 MDUSD in cash to extend its specialized health care network, and provides for an increase in its profit from the first year.
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Chinese authorities have urged local companies to avoid using H20 AI fleas of Nvidia, in particular in the context of government or national security work, putting pressure on technological giants such as Alibaba and Bytedance so that they are considering national alternatives.
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The Indian space authority has selected a consortium led by Pixxelspace, supported by Google, to build a constellation of the land observation satellites in the amount of $ 137 million over five years.
- Tencent Music exceeded turnover estimates for the second quarter thanks to a strong growth in the number of subscribers and a growing commitment in long -term audio, with an increase of 3.3% of its shares before the market opening.
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Musk announced that XAI was going to bring a trial against Apple about the classification of the App Store.
- Paramount acquires the exclusive rights of the UFC in the United States for 7.7 MDSUSD from the TKO group.
- Sinclair envisages mergers for its dissemination activity, according to CNBC.
Analysts recommendations:
- Chipotle Mexican Grill, Inc .: Piper Sandler & Co lowers his “neutral” recommendation to “overlap” and reduces his price target from 53 to 50 dollars.
- Illumina, Inc .: Daiwa Securities lowers his note from “outperformance” to “neutral” and reduces his price of courses from 124 to 94 dollars.
- Lantheus Holdings, Inc .: Trist Securities lowers his recommendation to “buy” to “keep” and reduces his price of courses from 111 USD to 63 USD.
- Monday.com Ltd. : Morgan Stanley notes his recommendation as “neutral” to “overlap” and lowers his price of courses from 330 USD to 260 USD.
- Palo Alto Networks, Inc .: Piper Sandler & Co notes its note as a “neutral” overvoltage “and raises its price as a course from 200 USD to 225 USD.
- Starbucks Corporation: Baird notes its recommendation as “neutral” to “outperformance” and raises its lens of courses from 100 to 115 USD.
- Archer-Daniels-Midland Company: Morgan Stanley maintains his “neutral” recommendation and raises his price of courses from 47 to 57 USD.
- ARISTA Networks Inc: Haitong International Research LTD maintains its “outperformance” recommendation and raises its target from 108 to 148 USD.
- Block, Inc .: Macquarie maintains its “neutral” recommendation and raises its price as a course from 50 to 67 USD.
- Doordash, Inc .: Citic Securities CO LTD maintains its recommendation “add” with a course of course noted from 192 to 264 USD.
- Ebay Inc .: Daiwa Securities maintains its neutral recommendation with a price of courses noted from 70 to 99 USD.
- Fair Isaac Corporation: Rothschild & Co Redburn maintains a neutral recommendation with a course lens brought back from 2,097 to 1,573 USD.
- GE VERNOVA Inc .: Melius Research LLC maintains its recommendation “keep” with a price of courses noted from 521 USD to 696 USD.
- Monday.com Ltd. : Baird maintains its “outperform” recommendation and reduces its USD 310 course target to 240 USD.
- Unity Software Inc .: CICC maintains its “outperformance” recommendation with a price of courses noted from 26 to 36 USD.
