Commentaire quotidien d'Amillex sur les marchés : Le ralentissement des ventes massives de valeurs technologiques fait grimper les contrats à terme sur les actions américaines, tandis que la hausse de l'aversion au risque tire l'or et l'argent vers le haut, l'or approchant des sommets historiques.
U.S. equity futures rebounded modestly on Monday, with S&P 500 futures up 0.3%. The U.S. dollar index was flat, while the Japanese yen climbed to a one-week high. Spot gold rose 1.1% to USD 4,347/oz, approaching its historical peak; silver surged 3% to USD 63.87/oz; Bitcoin rebounded to USD 89,900. Market focus remains locked in a tug-of-war between “AI bubble concerns” and “Federal Reserve policy expectations.”
Principaux mouvements du marché et analyse fondamentale
1. U.S. Equity Market: Tech Selling Pressure Eases, Economic Data in Focus
S&P 500 futures rose 0.3%, Nasdaq 100 futures gained 0.2%, attempting to recover from Friday’s decline of over 1%.
Stock highlights: Nvidia rose 0.66% pre-market; Apple edged down 0.1%; iRobot plunged over 80% after filing for bankruptcy.
Principaux facteurs moteurs :
AI valuation concerns: Yardeni Research downgraded the “Magnificent Seven” to underweight, questioning the cost-benefit dynamics of AI applications.
Data anticipation: Markets are awaiting Tuesday’s November nonfarm payrolls report (expected +50,000 jobs) and Thursday’s CPI release.
2. FX Market: Yen Hits One-Week High as BoJ Rate-Hike Expectations Rise
The U.S. dollar index was broadly unchanged; EUR/USD hovered around 1.1650.
The yen strengthened 0.6% to 154.955 per dollar, marking a one-week high.
Contexte politique :
Strong Tankan survey: Large manufacturers’ confidence hit a four-year high, reinforcing expectations of a BoJ rate hike in December.
Concerns over Fed independence: Former President Trump said he is considering Kevin Warsh as Fed Chair and advocated for interest rates below 1%.
