European stock exchangessupported in particular by the values of telecoms and those of the media, resist the renewed cautionwhile Wall Street is expected slightly lower at the opena US Federal Reserve (Fed) official who warned against being overly optimistic about the expected lull in interest rates.
Futures on New York indices signal an opening on Wall Street down 0.14% for the Dow Jones, 0.24% for the Standard & Poor’s 500 and 0.45% for the Nasdaq.
In Europe, the Euro Stoxx 50 rose 0.46% and the Stoxx 600 gained 0.32%. The gains vary between +0.32% in Amsterdam and +0.51% in Frankfurt.
The optimism that has gripped the equity markets since Thursday, thanks to the more marked than expected slowdown in inflation in the United States, is beginning to fade.
Christopher Waller, one of the governors of the US central bank, said on Sunday that the Fed could consider slowing the pace of its monetary tightening in December, without completely releasing the brakes in the fight against rising prices, believing that more data is needed.
Goldman Sachs, however, said on Sunday that it anticipates a “significant” drop in inflation in the United States next year, with a core PCE index at 2.9%, against 5.1% currently.
In the euro zone, where the European Central Bank (ECB) is also seeking to curb inflation, whose final figures for October will be known on Thursday, Fabio Panetta, member of the institution’s management board, said on Monday that it must continue to raise its rates, while avoiding excessive tightening that could destroy productive capacity and deepen the recession.
Pending the second estimate of the eurozone’s third-quarter gross domestic product (GDP) due on Tuesday, official data released on Monday shows that industrial production in the bloc rose more than expected in September0.9% over one month and 4.9% year-on-year.