Wall Street should be cautious
The U.S. stock market should open in the red on Wednesday, showing caution before the verdict of the Fed on the health of the U.S. economy. Futures on the Dow Jones, Standard & Poor's 500 and Nasdaq 100 fell back in effect respectively of 0.25% to 10,313 points, from 0.26% to 1 088.50 points and 0.09% to 1 855.75 points . On Tuesday, the New York Stock Exchange, troubled by doubts about the health of European banks ended the session down sharply. At the close, the Dow Jones slid 1.03% to 10,341 points, the Nasdaq lost 1.11% to 2209 points while the S & P dropped 1.15% to 1092 points.
The euro recovers against the dollar
On the foreign exchange market, the euro penalized yesterday by concerns over the European banking sector recovered himself.Having lost 1.46% Tuesday, the euro climbed to 1.2713 dollars in mid-session.
On the macroeconomic front, the release tonight at 20 o'clock in the Beige Book Fed instant report on the U.S. economy, is the principal rendezvous of the day, across the Atlantic.Although unemployment figures better than expected, released last Friday, the U.S. central bank should continue to keep interest rates low.
Also note in the current macro, China has again rejected any foreign pressure on Tuesday the exchange rate of its currency, the yuan, while reaffirming the need to maintain good relations with the United States to During the visit to Beijing two senior White House officials need a personal loan with bad credit.
Bank stocks in the viewfinder
On the side of values, while Sanofi-Aventis continues to woo Genzyme, the U.S. Laboratory, Bristol-Myers Squibb agreed to buy another American biotech, ZymoGenetics, for 885 million dollars.
After its disappointing second quarter, including its defense division, Boeing announced the reorganization of its military aviation activities.The number of divisions from six to four, with a consequent 10% reduction in the number of posts.
Today on Wall Street banking is likely to remain under pressure. The feeling of increased bank risk has also been fueled by the meeting yesterday, the Basel Committee, responsible for setting new solvency rules for banks. However, after this meeting, the committee has maintained the suspense in not distributing a press release. It will do that Sunday. In the morning, a Wall Street Journal had rekindled doubts doubt on the reliability stress tests on European banks, whose results were published at the end of July.