Stock market: what moves on the markets before the opening Tuesday

(Photo: 123RF)

The European stock markets progressed significantly Tuesday morning, hungry for records, scrutinizing a salvo of indicators the day after a session without much animation.

The clues

On Wall Street, futures contracts S&P 500 gained 19 points, or 0.46%, to 4,221 points. Those of Dow Jones took 197 points, or 0.57%, to 34,710 points and those of the Nasdaq rose 45 points, or 0.33%, to 13,731 points.

In Europe, markets were up at mid-session. In London, the FTSE 100 rose 1.1%, the CAC 40 of Paris advanced by 0.86% and the DAX of Frankfurt appreciated by 1.5%.

Earlier in Asia, the Tokyo Stock Exchange was weighed down by profit taking, the index Nikkei falling 0.16%.

The scholarships Hong Kong (+ 0.9%) and Shanghai (+ 0.3%), on the other hand, both finished in the green.

The context

“Crude prices are to be followed particularly” on Tuesday before the OPEC + meeting, notes Tangi Le Liboux, a strategist for broker Aurel BGC.

OPEC members and their allies are meeting at 11 a.m. GMT (7 a.m. in Quebec) to stop the amount of barrels the group will produce in the coming months, amid rising demand.

The market expects the gradual increase confirmed at the end of April to continue, after the strong cuts decided last year in the face of the COVID-19 pandemic.

“If the rise in oil prices is a little too fast in the coming weeks, it will have the potential to revive fears about inflationary pressures,” warns Mr. Le Liboux.

As for indicators, the publication of manufacturing activity indices and the first estimate of consumer prices for May are on the program in the euro zone.

Across the Atlantic is also expected the ISM manufacturing activity index for May.

On the oil side

Around 7.15 a.m., the barrel of WTI US dollar rose 2.79% to US $ 68.17 and a barrel of Brent of the North Sea gained 2.11% to US $ 70.78.

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