Equity markets fear another strong push by the Fed because stocks are expected to continue falling. The Eurostoxx 50 opens at 3,375.46 points (-1.69%), the CAC 40 at 5,866.94 points (-1.17%), the DAX 40 at 12,273.00 points (-1.59%), the FTSE 100 at 6,991.09 points (-0,09%), the SMI at 10,308.57 points (-0.79%), the AEX at 6,147% 1 points (-2.16%), the BEL 20 at 3,366.12 points (-2.00%), the IBEX 35 at 7,436.90 points (-0.99%), the DJIA at 29,296.79 points (-2.11%), the Nasdaq at 10,652.40 points (-3.80%), the S&P 500 at 3,639.66 points (-2.80%) and the Nikkei 225 at 27,116,11 points (-0, 71%).

With regard to exchange rates, the change since the close mentions that in New York, EUR/USD is at 0.9738 (-0.02%), EUR/JPY at 141.64 (+0.02%) and USD/JPY at 145.46 (+0.09%).

With the aim of putting an end to tensions over fuel supply in France, TotalEnergies proposed bringing forward the mandatory annual wage negotiations “subject to the end of the lockdowns.” In addition, François Villeroy de Galhau, governor of the Banque de France, will speak at 9:30am about the First Business Forum organized by the institution.

At the start of a week that will be marked by inflation figures in the United States, the annual meetings of the International Monetary Fund (IMF) and the World Bank, and the first corporate results for the third quarter, European equity markets are expected to continue their decline on Monday, October 10, 2022.

The FTSE 100 contract lost 45 points, or 0.6%, and the DAX 40 contract lost 115 points, or 0.9%. According to data from the IG Markets broker, the CAC 40 futures contract fell by 58 points at 7:40am. Last Friday, after the announcement of continued strong job creation across the Atlantic, which are unlikely to make the Federal Reserve (Fed) deviate from its monetary tightening policy, the European and American markets lost ground. Over the week as a whole, the Nasdaq gained 0.7%, however, the S&P gained 1.5% and the DJIA registered a gain of 2%. For its part, the Dow Jones Index (DJIA) closed down 2.1%, the Nasdaq Composite dropped 3.8%, and the expanded S&P 500 index fell 2.8%. The main indices fell this Monday in Asia. The Shanghai Composite Index lost 0.9% and the Hang Seng Index on the Hong Kong Stock Exchange dropped 2.8%. The Tokyo Stock Exchange is closed for a holiday in Japan.

Last Friday, US Treasury bond yields closed higher in New York. In terms of monetary policy, according to Jefferies, the employment figures “bring us back to where we were before last month.” For the bank, “The working population no longer really has room for growth, so wage pressures will remain significant. We still expect interest rates to rise by 75 basis points in November.” Today, Christopher Columbus Day, American bond markets will be closed in the United States.

This morning, the euro is falling against the dollar while, after the publication of employment figures in the United States on Friday, operators are revising their forecasts for a rise in the federal funds rate. According to ANZ, although the unemployment rate fell last month across the Atlantic, the pace of job creation has slowed and monthly wage growth has been in line with forecasts. He adds that “All eyes are now on the inflation data in the United States, expected later this week.”

After rising last week, oil futures fell this morning, boosted by the decision of OPEC +, a group bringing together the Organization of Petroleum Exporting Countries (OPEC) and ten allies led by Russia, to cut production. According to SPI Asset Management, oil prices are moving away from their highs. According to him, press reports indicate that the United States will offer oil from strategic reserves to eight companies.

The November contract for light sweet crude (WTI) traded on Nymex fell 80 cents to 91.84 dollars per barrel while the December North Sea Brent contract lost 87 cents to 97.05 dollars per barrel at 7:30am.