Ahead of the OPEP+ meeting, European stock markets are expected to fall. The Eurostoxx 50 opens at 3,484.48 points (+4.26%), the CAC 40 at 6,039.69 points (+4.24%), the DAX 40 at 12,670.48 points (+3.78%), the FTSE 100 at 7,086.46 points (+2.57%), the SMI at 10,590.92 points (+2.92%), the AEX at 669.59 points (+3.57%), the SMI at 10,590.92 points (+2.92%), the AEX at 669.59 points (+3.57%), the SMI at 10,590.92 points (+2.92%) 68%), the BEL 20 at 3,478.72 points (+3.08%), the IBEX 35 at 7,696.60 points (+3.14%), the DJIA at 30,316.32 points (+2.80%), the Nasdaq at 11,176.41 points (+3.34%), the S&P 500 at 3,790.93 points (+3.06%) and the Nikkei 225 at 27,115.21 points (+0.46%).

With regard to exchange rates, the change since the close mentions that in New York EUR/USD is at 0.9966 (-0.21%), EUR/JPY at 143.66 (-0.18%), USD/JPY at 144.16 (+0.01%).

On Wednesday, October 5, 2022, investors are paying attention to the industrial production figures in August and the PMI services index in September. Published on September 23, 2022, after 51.2 in August, S&P Global's first estimate indicated a rebound in service activity in France, with an index of 53 in September. A figure greater than 50 reflects an expansion in activity compared to the previous month.

According to an indicative calendar provided by the AMF in a regulatory prospectus, the offer is open from November 10 to December 8. The State will have to obtain at least 90% of the electricity company's capital in order to remove the EDF share from the stock exchange. According to the announcement by the French State last July, it does not yet have the decision to nationalize EDF by acquiring 16.3% of the capital.

European equity markets are expected to open lower as investors' attention turns to the first in-person meeting of the Organization of Petroleum Exporting Countries (OPEC) and its allies in several years. According to data from the IG Markets broker, the CAC 40 futures contract fell by 17 points, or 0.3%, at 7:35am. The FTSE 100 contract lost 24 points, or 0.3%, and the DAX 40 contract lost 49 points, or 0.4%.

A group bringing together OPEC and ten allied countries, led by Russia, is meeting in Vienna to discuss a reduction in production that could reach up to 1.5 million barrels per day but that not all participants support, according to OPEC officials.

Investors will monitor the PMI and ISM service indices in the eurozone and across the Atlantic, and then the ADP report on employment in the US private sector two days before the publication of the monthly US employment report. After a further fall in bond rates in the United States, Wall Street finished in the green on Tuesday, October 4, 2022. Investors are hoping that the end of the Federal Reserve's (Fed) rate-raising cycle is approaching. The Nasdaq Composite jumped 3.3%, the Dow Jones Index (DJIA) gained 2.8%, and the expanded S&P 500 added 3.1%.

In Asia, the main indices increased on Wednesday, October 5, 2022. In the wake of gains in American indices over the past two sessions, the Hang Seng Index of the Hong Kong Stock Exchange, which was closed last Tuesday, 04, jumped, in particular, by 5.7%. At the end of the session in Tokyo, the Nikkei index gained 0.5%. For China's National Day, financial markets are still closed in the country.

On Tuesday, October 04, 2022, US bond yields continued to fall. Statistics released in the United States continue to lead investors to hope that the Federal Reserve's (Fed) tightening cycle will soon come to an end. For its part, Societe Generale believes that US Treasury bond prices can start rising again and continue their rebound.

The dollar is gaining ground against most other currencies, including the euro. Jonas Goltermann, chief market economist, said in a note that Capital Economics is confident that the dollar's rebound will continue as the global economic slowdown deepens and as demand for safe assets intensifies. For him, “Although the greenback is ripe for a period of consolidation, we believe that the underlying drivers of its strength remain intact.” Also, he adds that “the outlook for the American economy is supported by rising energy prices, which have improved the terms of trade for the United States against Europe and Asia, and by the Federal Reserve (Fed), which seems determined to contain American inflation at almost any price.”

Before the OPEC+ meeting, oil prices fell on Wednesday, but their fall may be limited. According to SPI Asset Management, the Russian Deputy Prime Minister Alexander Novak is expected to participate in this meeting, showing that the cartel is preparing a significant reduction in its production quotas and wants to show its unity. The November contract on light sweet crude (WTI) traded on Nymex fell by 19 cents to $86.33 per barrel while the December contract on North Sea Brent lost 10 cents to $91.70 per barrel.