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© Reuters.
Here are the top 5 things to know about the markets on Monday April 8th
1. Wall Street ready to open lower
Wall Street is expected to open the week cautiously and consolidate after last week's gains. At 5:30 am EST, the contract was down 4.6 points or 0.2%, the contract down 57 points, or 0.2%, while the heavy techno contract was down 14 points, also down 0.2%.
After a weekend with no net progress in US-China trade negotiations (beyond the usual rotation), the market is eagerly awaiting the start of the financial season results, while a quarter of the economic data typically weaker than expected find their individual expression stories of earnings.
Overnight, Asian markets generally fell, the sentiment not being reinforced by reports of an increase in bad loans by Chinese lenders and a three-year low in Japanese. European markets also opened lower, as weaker than expected for February added another verse to a first quarter that was a chapter of misfortune.
2. Stable bonds after pay
The national data schedule is light, with orders at 10:00 am ET (14:00 GMT). The consensus forecasts a drop in orders of 0.5% in March, following a rise of 0.1% in February.
Bond markets stabilized in the wake of a generally positive Friday showing higher than expected job growth and a slight easing of wage pressures. The drop is just below 2.50%, while we expect more and more interest rates to be reduced later this year.
President Donald Trump lobbied the Fed for it to reduce its rates and revive its bond purchase program. Other parts of Washington may be under pressure later this week when the spring meeting of the International Monetary Fund and the World Bank will begin. The IMF update of its Global Economic Outlook is expected to reflect downward growth forecasts around the world.
3. Oil reaches new heights during the turmoil in Libya
Crude oil prices hit a new high for the year after signs of rising violence in OPEC member countries, fueling fears that the war-torn country is experiencing a new period of export disruptions.
The benchmark contract hit a five-month high of $ 63.53 a barrel before. Saudi Oil Minister Khalid al-Falih said global oil stocks remain well above their five-year average. limitation of production after June.
Al-Falih also said that orders for the first bond had probably exceeded $ 30 billion, a bid-to-cover ratio of more than 3.
4. The Brexit deadlines are looming
OK, this week is really a crucial moment for Brexit. At present, the UK is about to exit the EU without any transitional provisions being in place at midnight Friday in Brussels.
This should not come to that, however. British Prime Minister Theresa May has already asked for a further extension of the deadline until June 30, and some EU members want an even longer deadline, which would allow time to rethink in depth future relations.
At the end of the week, May reported that she had stopped trying to have Parliament approve her withdrawal agreement. However, his discussions with the opposition Labor Party over the weekend, which aimed to find a multi-party solution (or, cynically, said someone with whom to blame his fault) did not go anywhere. gave no results.
5. Pinterest to start marketing for the IPO
After Lyft (NASDAQ 🙂 The first hectic week as a public company, the owners of the Pinterest image sharing site (NYSE 🙂 seem to be taking a cautious approach to the IPO of their company.
The Wall Street Journal announced that the sale of the shares would start this week in a lower range than the last sale of shares to investors before the IPO. The last round of financing sold stocks at $ 21.54, which gave Pinterest a $ 12 billion valuation.
Pinterest is the second major IPO of the year after Lyft. Although the Relay Company ended its first week above the IPO price, last week's volatility clearly highlighted the risks of bringing unprofitable startups to eight-digit valuations. .
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