Wall Street: finally the rebound?

(Boursier.com) – Wall Street is expected to rise before the market on Wednesday. The Dow Jones rose 0.7% and the S&P 500 0.9%, while the Nasdaq took 1.3%. A barrel of WTI crude fell 1.1% on the Nymex at $90.9. An ounce of gold fell 0.6% to $1,895. European markets are also trying to pull themselves together today, helped by solid financial publications.

The Ukrainian file still dominates the debates, after the announcement of the first sanctions against Russia, which are not as aggressive as expected for the time being and still leave room for diplomacy to avoid an invasion.

Ukraine has nevertheless asked Western powers to carry out additional sanctions against Moscow targeting the Russian economy and the entourage of President Vladimir Putin, following Russia’s recognition of the independence of the separatist regions of eastern Ukraine. and sending soldiers for a “peacekeeping” operation. Ukrainian Foreign Minister Dmitro Kuleba welcomed the first “decisive” steps taken, adding however, on the social media network Twitter, that the pressure must now increase in order to stop Putin. “Hit his economy and his minions. Hit harder, hit hard, hit now,” the minister said.

USA, Canada, European Union, Great Britain, Australia and Japan yesterday announced their first sanctions against Moscow, while Germany chose to suspend the certification of the Nord Stream 2 gas pipeline linking it to Russia. The major Western powers have also warned that they are ready for new measures in the event of an escalation of the conflict. “If Russia continues to aggravate the crisis it has created, we are ready to take further measures,” said European Commission President Ursula von der Leyen.

A summit between Joe Biden and Vladimir Putin is “definitely” no longer on the agenda, the White House has said. “At this stage, it is certainly not envisaged,” said spokeswoman Jen Psaki, adding that a de-escalation in Ukraine was necessary for such a summit to be held. Biden announced a first round of sanctions against Russia last night, outlining the start of a Russian invasion. The American president promised tougher actions if Moscow continued on this path, without however completely rejecting the idea of ​​​​a diplomatic solution.

Initial US sanctions target two major Russian financial institutions and sovereign debt. From today, these sanctions would hit Russian elites and members of their families. “This is the start of a Russian invasion of Ukraine,” said the American president, saying that Russia had made undeniable progress in Ukraine by declaring the independence of the Luhansk and Donetsk regions. Biden spoke of “next steps ready.” “Russia will pay an even greater price if it continues its aggression,” Biden threatened.

On the economic front on Wall Street today, San Francisco Fed Leader Mary Daly will speak on a variety of economic issues. The institutional investor confidence index measured by State Street will also be unveiled.

Tomorrow will be a more active day from an economic point of view in the United States, with the preliminary figures (second of three estimates) of GDP for the fourth quarter (consensus +7%), the weekly jobless claims, the index of the Chicago Fed’s national activity, new home sales, the Department of Energy’s weekly report on domestic oil inventories, and the Kansas City Fed’s manufacturing index. Thomas Barkin, Raphael Bostic, Loretta Mester and Christopher Waller from the Fed will also speak during the day.

In today’s business news on Wall Street, Lowe’s, Booking Holdings, TJX, Exelon, eBay, LiveNation, Ingersoll-Rand, NetApp, Molson Coors, Bath & Body Works, Bausch Health, Hertz Global Where Chesapeakenotably publish their latest accounts.