This Friday, July 19, 2024, European equity markets are in the process of recording a fall in the face of the downturn on Wall Street. However, the Eurostoxx 50 was at 4,870.12 points (-0.44%), the CAC 40 at 7,586.55 points (+0.21%), the DAX 40 at 18,354.76 points (-0.45%), the FTSE 100 at 8,204.89 points (-0.44%), the CAC 40 at 8,204.89 points (+0.21%), the SMI at 12,247.61 points (-0.70%), the AEX at 916.04 points (-0.45%), the FTSE 100 at 8,204.89 points (-0.44%), the FTSE 100 at 8,204.89 points (+0.21%), the SMI at 12,247.61 points (-0.70%), the AEX at 916.04 points (-0.45%), the FTSE 100 at 8,204.89 points (-0.44%), the FTSE 100 at 8,204.89 -0.05%), the BEL 20 at 4,003.52 points (-0.35%), the IBEX 35 at 11,147.50 points (+0.38%), the DJIA at 40,665.02 points (-1.29%), the Nasdaq at 17,871.22 points (-0.35%), the S&P 500 at 5,544.59 points (-0.78%) and the Nikkei 225 at 17,871.22 points (-0.70%), the S&P 500 at 5,544.59 points (-0.78%) and the Nikkei 225 at 40,089.04 points (

-0.09%).

On the exchange rate side, the change from the close in New York indicates that the EUR/USD opened at 1.0889 (-0.07%), the EUR/JPY at 171.37 (-0.07%), the EUR/JPY at 171.37 (-0.06%) and the USD/JPY at 157.39 (+0.01%).

The IT services company Sopra Steria is suffering a setback due to several “exogenous events” that have occurred in recent weeks. The company therefore lowered its organic growth target for the current year on Thursday evening

.

The pharmaceutical supplier Sartorius Stedim Biotech for its part lowered its financial objectives for 2024 by citing the destocking policy of some customers and their reluctance to invest. For its part, video game publisher Ubisoft confirmed its annual objectives on Thursday, after seeing its “net bookings”, the equivalent of sales, increase in the first quarter of its staggered fiscal year

.

European equity index futures fell Friday morning, in the wake of the Wall Street downturn on Thursday, where the downturn in tech stocks extended to all sectors. At around 7:30am, the CAC 40 futures contract was stable, according to data from broker IG. The one on the DAX 40 lost 9.1 points, or 0.1%, and the one on the FTSE 100 lost

31.1 points, or 0.4%.

After a volatile session, the New York Stock Exchange closed lower on Thursday as profit-taking continued in the technology sector. After posting its biggest drop since December 2022 on Wednesday, the Nasdaq Composite fell 0.7%. Investors are moving away from the tech giants that dominated the first half of the year in favor of smaller companies and sectors that are more sensitive to economic conditions

.

This rotation is largely a result of the belief that the US Federal Reserve (Fed) could start cutting interest rates in September. “We expect interest rate cuts to contribute to greater market participation, which is always a good thing,” said Ayako Yoshioka, portfolio manager at Wealth Enhancement

Group.

Investors also welcomed the Conference Board's leading indicator, which signalled a further deceleration in the US economy as a result of growing consumer reluctance. The leading indicator of the economic institute fell by 0.2% in June, to 101.1, suffering a fourth monthly decline in a row. The slowdown in consumption is expected to drop gross domestic product (GDP) growth to around 1% on an annualized basis in the third quarter, compared to a rise of 1.4% in the first quarter, according to the institute. In Asia, equity markets were trading in negative territory on Friday. The Nikkei 225 index on the Tokyo Stock Exchange lost 0.1% at the end of trading. The Hang Seng in Hong Kong lost 2.1% and the Shanghai Composite dropped

0.1%.

After reaching their lowest levels in months, two- and ten-year US Treasury yields rebounded on Thursday as the market looked at the possibility of a lower-than-expected cycle of rate cuts in the United States.

Market attention is now focused less on when the Fed will cut rates first and more on the duration of the next round of monetary easing, as the possibility of a presidential victory for Republican candidate Donald Trump, including tariff proposals, looms. raise some questions

.

Around 7:20 a.m., the 10-year US Treasury bond rate gained 4 basis points, to 4.205%. That of the two-year stock also rose by 4 basis points, to 4.484%. The euro lost ground on Friday morning against the dollar and the yen. The dollar is strengthening, benefiting from risk aversion. The Chicago Board Options Exchange (CBOE) VIX volatility index, nicknamed the “fear index” on Wall Street, continues to rise, says Rodrigo Catril, a strategist at NAB, adding that risk aversion prevails in the

absence of a clear catalyst.

Crude oil futures fell on Friday, penalized by the downturn in the New York Stock Exchange on Thursday. If supply continues to increase, black gold prices will be more sensitive to a general weakening in demand for commodities amid a slowdown in the global economy and a decrease in Chinese demand, explains TD Securities. At 7:20 a.m., the September contract for North Sea Brent fell by 46 cents to $84.65 per barrel. The August contract for light sweet crude (WTI) listed on Nymex also lost 46 cents, to 82.39

dollars per barrel.