(CercleFinance.com) – The Paris Bourse should open lower Friday morning in the wake of Wall Street, which suffered a marked loss of around 1% the day before.
Around 8:15 am, the ‘future’ contract on the CAC 40 index – end of month delivery – fell by 29 points to 5,333 points, announcing a note of weakness at the opening.
Like the New York Stock Exchange, the Parisian market remains penalized by the resurgence of Covid-19 in the Western world, which threatens an economic recovery that already seemed very fragile.
The session was particularly volatile yesterday on Wall Street, in particular for the Dow Jones which fell more than 1.6% during the session before ending with a decline of just over 1%.
The S&P 500 also had a rough course, with a loss of 1.7% finally reduced to 1% at the final blow of the bell.
The trend has frankly increased when Lori Lightfoot, the mayor of Chicago, issued a city order banning residents of the day before from entertaining guests at their homes for Thanksgiving.
This decree is much more restrictive than that passed the day before by the governor of the state of Illinois, who the day before was limited to ‘recommending’ residents to stay at home ‘as much as possible in the next three weeks’.
Wall Street is therefore starting to wonder what access restrictions might be imposed on American shopping centers on ‘Black Friday’, so decisive for retail trade in the United States.
President-elect Joe Biden has in any case made known his preference for strict reconfigurations, despite the danger that this would weigh on growth, while waiting for the salvation of the economy to come from a future vaccine.
The end of the day was also fertile in publication of results, Cisco having unveiled in the evening results above expectations with a profit per title of 0.76 dollars against 0.70 expected dollars.
Disney also reassured investors with better than expected quarterly performance.
In Europe, a series of economic statistics will liven up the morning, including the ‘rapid’ estimate of euro zone growth in the third quarter.
Preliminary data had shown a spectacular rebound in activity over the period from July to September (+ 12.7%), largely but not entirely reversing the falls in the 1st quarter (-3.7%) and the second quarter (-11.8%).
In the United States will be published in the afternoon the survey of the University of Michigan, carried out around the time of the presidential election and while cases of infection were on the rise.
“Two sources of uncertainty, which can weigh on sentiment,” warn Oddo BHF’s teams.
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