No certainty on rate cuts from Fed minutes: Wall Street closes in the red

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(Il Sole 24 Ore Radiocor) – After 2023, which we remember, European stock markets continue to not find the right path in the new year, closing significantly lower in the second season of the year. THE against Federal Reserve Herbs, published in the evening, confirmed the impression that the central bank has reached the end of the rate hike cycle, although the timing of the easing remains uncertain. According to most FOMC members, in fact, from an anti-inflationary perspective, it is appropriate to maintain a restrictive policy for some time.

Key news for the markets will also come from new data oninflation and US employment (expected on Friday) and on the European front by inflation numbers, which are inevitably linked to hopes that the ECB will ease rate tightening.

This ends the session in negative territory Milan (-1.39%), Paris (-1.58%), Frankfurt (-1.38%), London (-0.51%=, Madrid (-1.26%) and Amsterdam (-0.43%).

Wall Street down, tech sector hit

Wall Street also fell, further losing ground after the Fed minutes: at the close, the Dow Jones lost 0.76%, the S&P 500 0.80% and the Nasdaq 1.18%. Rising bond yields have an impact US Treasury Departmentwith the 10-year bond back to 4%, putting pressure on tech stocks already reeling from Apple’s decline after Barclays decided to downgrade the Cupertino company due to weak iPhone and Mac sales. the great 7′ of the US tech industry, Nvidia Corp and Tesla, Meta Platforms and Alphabet Class A also performed poorly.

Leonardo resists in Milan. Weak oil and luxury

Only a handful of stocks are holding positive on Piazza Affari. It has an impact on UBS’s “strike” on luxury, which has crushed major shares in the sector (in Milan Moncler -4.49% and Cucinelli -3.6%)which expects a “weak end to 2023” for the sector in Europe and slow sales growth in 2024. Leonardo (+1.35%)queen Ftse Mib in 2023. The banking sector is on a roll, after opening the session following a rally the day before: MPS (+1.61%) is at a premium as the topic of risk in the banking sector resurfaces. Among the worst performances are those of Fr Wed (-3.5%)with the weakness of American technology companies, and Stellantis (-3.42%)as a result of 2024 registration data.

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