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Stock markets showed a certain caution on Friday the day after the plunge on Wall Street, troubled by the tax measures envisioned by the US administration that have turned against Bitcoin.
On Wall Street, around 7.15 AM, futures Standard & Poor’s 500 Ten points rose to 4,138 points Dow Jones It took 59 points to 33,768 points, and those from Nasdaq It increased 21 points to 13,771 points.
In Europe, the markets were higher in the middle of the session. in London , FTSE 100 Index It took 41 points to 6,965 points. In Paris , CAC 40 He earned 50 points to 6,250 and in Frankfurt, he earned Dax It increased from 81 points to 15,263 points.
Asia was mixed: in Tokyo, the Star Index Nikki It lost 0.57% however Hong Kong Profit of 1.12% and Shanghai 0,3%.
to me The New York Times And Bloomberg, the Biden administration is reportedly considering doubling the US tax on profits from stock transactions, currently set at 20%, for high net worth individuals whose annual income is more than $ 1 million.
“Biden’s tax plans are frightening investors,” says Milan Katkovic, an ACCI analyst.
“Although the news may only have a short-term impact,” the reaction to this yet-to-be announcement “once again illustrates the current tension in the stock markets (…),” he notes – he does.
This tax proposal caused Bitcoin to fluctuate below $ 50,000, after it crossed the $ 62,000 level in mid-April.
After the new records recorded in the markets last week and the risk of economic overheating, many analysts are wondering whether the markets are not satisfied with themselves.
Moreover, the uncertainty that remains regarding the evolution of the epidemic as the variables proliferate makes it difficult to predict the global recovery timetable.
Not to mention the failure of the European Union to release funds for the 750 billion euro European recovery plan that would help support growth, which only 17 out of 27 countries have ratified so far.
However, Horvitz cautions that “due to the valuations and excesses inherent in extremely loose monetary policies, we may see more volatility in the coming quarters.”
Other experts are headed in the same direction: “The recovery and vaccination have already been largely integrated into the training course, and the risks are now the majority in the market,” Saxo Bank analysts warn.
Unsurprisingly, European markets reassured the European Central Bank’s decision to keep its monetary support policy intact.
“What will remain essential to the stock market dynamics is the evolution of the economic situation and it is clear that the central bank will be located,” says Sebastian Paris Horvitz, an analyst at LBPAM.
However, the news is showing resilience despite the health restrictions: Private sector activity in the Eurozone saw its strongest growth since July in April, thanks to record performance in the industry and recovery in services, according to Markit’s PMI composite first estimate.
Investors will be watching the US in the afternoon.
On the oil side
Around 7:30 a.m., a barrel was West Texas Intermediate The US dollar rose 0.42% to $ 61.69 a barrel Brent From the North Sea 0.2% to 65.53 USD.
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