After the stumble they experienced on Fridaythe main indices of Wall Street rise strongly on this Monday, after Donald Trump’s rhetoric towards China will soften in his latest statements on Sunday. In Asia, the surprise came on the side of the political crisis in Japanwhile in Europe the eyes They continue to rest on the formation of the new French cabinet.
Although Trump had threatened last Friday to impose tariffs on 100% to China starting November 1, and Beijing responded that it could take countermeasures, The North American president sounded more conciliatory in his statements yesterdaywhen he published on his networks that the United States did not intend “damage” to China.
Wall Street rebounds in the previous
In this context, the index that groups the most important companies in the New York Stock Exchange, he S&P 500, rises 1.25%, while the Nasdaq Composite, dedicated to the technology sector, increases 1.68%. For its part, the industrial index Dow Jones moves 0.95% up.
The stocks with the biggest increases are Estee Lauder (+7.8%), Best Buy (+6.8%) and Broadcom (+8%). On the opposite side, only a few companies are trading in the red, including Las Vegas Sands (-4.3%), Fastenal Company (-4%) and Wynn Resorts (-3.5%).
Looking ahead to the last part of the year, the main Wall Street indices point to 2025 with widespread increases and at their all-time highs. In the last six months, the Nasdaq rises 32%, the S&P 500 follows with +22% and the Dow Jones follows with +13%.
Politics sets the course for the Asian and European markets
In the rest of the world, the situation is mixed. In Europe, the Euro Stoxx It rises 0.34% and is close to its historical maximum. At the local level, the increases are generalized: the German DAX increases 0.11%, while the French CAC down 0.12%. Outside the eurozone, the UK FTSE drops 0.04%.
Volatile days expected in Franceafter the composition of the cabinet was known on Sunday, which again included the presence of Sébastien Lecornu, along with Roland Lescure, a close ally of Emmanuel Macron, as Minister of Finance. Lecornu will likely face a no-confidence vote on Thursday and it is unclear whether he has the votes needed to win.
In Asia, on the other hand, the Shanghai stock market fell 0.19% in China, while the Hang Seng in Hong Kong fell 1.52%, followed by the South Korean Kospi 50, which fell 1.01%. Anyway, The focus will be on Japan, where the Nikkei 225 fell 1.01%.
During the last hours it was known that The Komeito political party left the ruling coalition on Friday due to disputes with the Liberal Democratic Party (LDP) for political financing, pledging not to support leader Sanae Takaichi for prime minister.
“Even if she is elected, she faces greater obstacles to advancing policies in parliament,” Hang Seng Bank highlighted in its daily report. In this sense, they highlighted that the yen rebounded from its lowest in eight months, in addition to the fall of the Nikkei, “which reflects the reversal of the ‘Sanae trade’, which is committed to fiscal expansion and moderate monetary policy.”
Source: Ambito
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