(AOF) – US markets are expected to fall after their strong rebound on Tuesday. Yields on long rates (+7 basis points to 3.7% for the 10-year) are trending up again, after the announcement of a higher than expected number of jobs in the private sector. While this is good news for the economy, it is not good news for the markets, as this data reinforces the scenario of a 75 basis point Fed rate hike in November. In terms of values, Twitter will finally be bought by Elon Musk. A few minutes before the opening, futures on the S&P lost 0.87%.
Yesterday on Wall Street
US markets continued their rebound, supported in particular by the decline in long rates. The Bank of Australia’s decision to raise rates less than expected and the biggest drop in 2.5 years in job offers in August fueled expectations of a slower pace of Fed rate hikes . However, nothing has really changed from a fundamental point of view compared to last week when the stock markets fell. The Dow Jones closed up 2.80% at 30,316.32 points while the Nasdaq Composite gained 3.34% at 11,176.41 points.
208,000 jobs were created in September in the United States, according to the ADP survey. After 132,000 in August, 200,000 job creations were expected.
The United States recorded a trade deficit of $67.40 billion in August, compared with a consensus of -$67.70 billion and $70.50 billion in July.
The purchasing managers’ indices for the services and composite sectors for September will be released at 3:45 p.m.
The values to follow
Apple is asking its suppliers to shift some of their production of AirPods and Beats headphones to India for the first time, the Nikkei Asia newspaper reveals. According to three sources familiar with the matter, production could begin next year. “iPhone assembler Foxconn is preparing to manufacture Beats headphones in the country, and hopes to eventually produce AirPods there as well, said two people with direct knowledge of the matter,” the outlet said.
Exxon Mobil will release its third quarter results on October 28. But the American oil giant has already reported on Tuesday, October 4, an operating profit in the third quarter, which should approach the – already – very good results recorded by the group in the second quarter. The American oil group Exxon Mobil had then exceeded analysts’ forecasts in terms of results. Its net profit had literally jumped, rising in one year from 4.69 billion dollars to 17.85 billion dollars.
Schlumberger today announced that it has partnered with Gradiant, a global water solutions provider, to introduce key sustainable technology into the production process of battery-grade lithium compounds. As part of Schlumberger’s NeoLith Energy Direct Lithium Production and Extraction (DLE) scheme, Gradiant technology is used to concentrate lithium solution and generate fresh water – a critical component of sustainable lithium production from brine.
Elon Musk has offered to buy Twitter for $44 billion, on terms he initially agreed to, according to a filing with the SEC. Such an offer will allow him to avoid a trial which was to be held from October 17. Twitter said it received a letter from Elon Musk about the offer.
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