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[Photo : 123rf]
The New York Stock Exchange is heading for an opening close to balance on Tuesday morning. Investors are more cautious, despite a positive start to the week, after Donald Trump's uncompromising commercial remarks.
The Dow Jones Industrial Average, the leading index of the New York parquet, is expected a slight decrease of 0.16% to 24,560 points according to the futures. The Nasdaq, with strong technological color, fell 0.43%% before the opening of the markets, to 6644.50 points. The S & P500, meanwhile, loses 0.22% to 2664 points.
Context
"A technical rebound took the market yesterday," but it's hard to "talk about a turnaround. In fact, nothing will happen in this regard until the market has more visibility about the outcome of the US-China meeting ", on the sidelines of the G20 summit, said Christopher Dembik, responsible of economic research at Saxo Bank.
The US president said on Monday that it is "highly unlikely" that it freezes the expected rise in customs duties on $ 200 billion worth of products imported from China, just days before a meeting with his Chinese counterpart on the sidelines of the summit. of the G20.
According to Dembik, "the market is still on the lookout for Italy and the United Kingdom, where we are starting to see signs of relaxation, even if nothing is done yet. The Brexit agreement must pass Parliament's filter in December and negotiations between Rome and Brussels are likely to drag on for several more weeks. "
As far as Italy is concerned, the Italian government, which until now has been inflexible, now seems ready to modify its 2019 budget in order to avoid a standoff with Brussels but, above all, to reduce tensions on the financial markets.
As for Brexit, the British Parliament will decide on December 11 on the withdrawal agreement of the European Union concluded with Brussels.
Abroad
The Hong Kong Stock Exchange ended lower on Tuesday, waiting for a crucial meeting between Xi Jinping and Donald Trump, who threatened new protectionist measures in case of failed talks.
The trade war between the United States and China could reach a new level at the G20 in Buenos Aires, where the US president will meet his Chinese counterpart.
In the absence of agreement between the two leaders, Donald Trump threatened to impose "267 billion dollars" of additional customs duties, ie all Chinese imports hitherto spared from US taxes.
In an interview published Monday by the Wall Street Journal, the US head of state has already found it "very unlikely" that his administration refrain from implementing these new tariffs.
"The only deal" in the eyes of Donald Trump would be for China "to open up to US competition," said the US president.
This stance has worried analysts, Stephen Innes (Oanda) fearing to see "Trump the warrior of trade rather than Donald the cheat maker" at the G20 summit this weekend.
On the agenda
On the indicator side, the Conference Board's consumer confidence for the month of November is also in the United States in the afternoon.
Investors are also attentive to comments from the Federal Reserve (Fed), whose President Jerome Powell could indicate Wednesday a slowdown in rising interest rates.
Boosted by solid growth in US GDP, the rise in interest rates could be softened by the Fed in 2019, in line with the deceleration of the global economy.
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