BFM Patrimoine

AVANT WALL STREET: Les contrats s'inscrivent en hausse avant la réunion de la Fed

BFM Patrimoine

NEW YORK (Dow Jones)--Les contrats à terme sur les indices d'actions américains s'inscrivent en légère hausse mardi, ce qui laisse attendre un deuxième jour consécutif de progression des cours à Wall Street, après quatre séances de baisse la

NEW YORK (Dow Jones)--Les contrats à terme sur les indices d'actions américains s'inscrivent en légère hausse mardi, ce qui laisse attendre un deuxième jour consécutif de progression des cours à Wall Street, après quatre séances de baisse la semaine dernière. Tous les regards sont tournés vers la Réserve fédérale (Fed), qui se prépare à entamer sa dernière réunion de politique monétaire de l'année.

Les marchés d'actions européens perdent en revanche du terrain, dans un climat de prudence avant la réunion de la Fed, qui pourrait annoncer à l'issue de sa réunion de deux jours une réduction du montant de ses rachats mensuels d'obligations.

Environ 75 minutes avant l'ouverture de Wall Street, le contrat à terme sur l'indice Dow Jones Industrial Average gagnait 17 points, soit 0,1%, à 15.840 points. Le contrat sur l'indice S&P 500 prenait moins de 1 point, à 1.781 points, et celui sur le Nasdaq 100 progressait de 2 points, soit 0,1%, à 3.472 points.

Lundi, le S&P 500 a gagné 0,2% et signé son 39ème record de l'année. Le DJIA a clôturé en progression de 72 points, mais à un niveau inférieur d'environ 0,4% à son record de 16.097,33 points atteint le 27 novembre.

La Fed doit commencer mardi à débattre de l'avenir de son programme de rachats d'obligations de 85 milliards de dollars par mois, qui a soutenu les marchés d'actions cette année. La banque centrale rendra sa décision après sa réunion mercredi soir.

Du côté des statistiques, les prix à la consommation aux Etats-Unis sont restés stables sur un mois en novembre, alors qu'une hausse de 0,1% était attendue. Hors alimentation et énergie, l'indice est ressorti en progression de 0,2%, alors que les économistes s'attendaient à une augmentation de 0,1% seulement.

Parmi les valeurs à suivre, Boeing gagne 2,2% en préouverture. Le constructeur aéronautique américain a annoncé lundi une hausse de 50% de son dividende trimestriel et un nouveau programme de rachat d'actions de 10 milliards de dollars, après l'amélioration récente de ses résultats.

KKR cède en revanche 3,2% après avoir annoncé la conclusion d'un accord en vue d'acquérir le fonds d'investissement spécialisé KKR Financial Holdings (KFN), que la société de capital-investissement gère déjà par le biais d'une filiale, pour un montant de 2,6 milliards de dollars entièrement payable en actions. L'action KKR Financial s'envole de 29% en préouverture.

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NEW YORK (Dow Jones)--Les contrats à terme sur les U.S. stock futures inched higher Tuesday morning, leaving the market on an early track to extend gains for a second day after falling in the final four sessions of last week. All eyes were on the Federal Reserve as it prepared to begin its final two-day policy-setting meeting of the year.

European stocks slipped Tuesday, trimming Monday's gains, as investors turned cautious heading into the Fed meeting which could see the scaling back of U.S. monetary stimulus.

About 75 minutes ahead of the open, Dow Jones Industrial Average futures gained 17 points, or 0.1%, to 15840.

S&P 500 index futures added less than a point to 1781 and Nasdaq-100 futures rose two points, or 0.1%, to 3472. Changes in stock futures don't always accurately predict stock moves after the opening bell.

On Monday, the S&P 500 rose 0.2% to its 39th record this year. The Dow closed Monday up 72 points, but about 0.4% shy of its Nov. 27 record of 16097.33.

The Fed Tuesday will begin debating the future of their $85 billion-a-month bond buying plan, which has buoyed stock markets this year, with a decision due after the meeting concludes Wednesday. The S&P 500 index had gained 25.3% so far this year through the close Monday.

After a sharp drop week last week, with the S&P 500 falling 1.6%, the most in a week since the last week of August, stocks are rising to begin this week as some bullish investors come back into the market, said Uri Landesman, president of the $1.25 billion hedge fund Platinum Partners.

Still, Mr. Landesman says, "it is the last gasp, or nearly last gasp of this huge rally." He sees stocks falling through the first half of next year for the most substantial market correction since stock began recovering from the financial crisis five year ago.

"More important than when tapering begins is the slope of tapering," Mr. Landesman said. "Will we go from $85 billion to zero over six months, or over 18 months," he said.

On the economic calendar, the consumer price index for November was unchanged versus expectations for a rise of 0.1% on the month. Excluding food and energy, the index gained 0.2%, slightly more than expected. The National Association of Home Builders' housing market index for December, due out at 10 a.m. EST, is seen increasing to 55 from 54 in November.

The yield on the 10-year Treasury note declined to 2.874% from 2.880% late Monday.

Front-month January crude oil futures dropped 0.3% to $97.20 a barrel. December gold futures slipped 1.1% to $1,232 an ounce.

The dollar fell against the yen, but gained against the euro.

The Stoxx 600 index slipped 0.3%, after gaining 1.3% in the previous session. Germany's DAX shed 0.2%, while London's FTSE 100 lost 0.3%. The losses came despite a positive lead from the U.S. and Asia, and data showing that German economic sentiment is at its most robust level since April 2006.

The ZEW sentiment survey showed the economic expectations indicator rose to 62.0 points in December from 54.6 points in November, beating economists' expectations of an increase to 55.0 points.

Asian markets were higher, taking its lead from strong overnight gains in the U.S. Japan's Nikkei Stock Average rose 0.8%, while South Korea's Kospi was up 0.2% and Australia's S&P/ASX 200 gained 0.3%. But China's Shanghai Composite slipped 0.5%.

In corporate news, Boeing shared gained 2.2% in premarket trading after its board authorized a 50% increase to its regular dividend and $10 billion to repurchase its shares over the next several years.

KKR & Co. shares slipped 3.2% after the private-equity firm known for its large debt-fueled corporate takeovers said it reached a deal to acquire KKR Financial, bringing under its roof the separate, specialty-finance company managed by the private-equity firm that pursues debt investments and other bets. KKR signed an agreement to take over the sister firm in a $2.6 billion all-stock deal. Shares of KKR Financial jumped 29% in premarket trading.

Write to Kaitlyn Kiernan at kaitlyn.kiernan@wsj.com

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--Stock futures rise, as Fed prepares to begin two-day policy-setting meeting

--European markets trade lower

--Consumer price index for November unchanged

By Kaitlyn Kiernan

NEW YORK--U.S. stock futures inched higher Tuesday morning, leaving the market on an early track to extend gains for a second day after falling in the final four sessions of last week. All eyes were on the Federal Reserve as it prepared to begin its final two-day policy-setting meeting of the year.

European stocks slipped Tuesday, trimming Monday's gains, as investors turned cautious heading into the Fed meeting which could see the scaling back of U.S. monetary stimulus.

About 75 minutes ahead of the open, Dow Jones Industrial Average futures gained 17 points, or 0.1%, to 15840.

S&P 500 index futures added less than a point to 1781 and Nasdaq-100 futures rose two points, or 0.1%, to 3472. Changes in stock futures don't always accurately predict stock moves after the opening bell.

On Monday, the S&P 500 rose 0.2% to its 39th record this year. The Dow closed Monday up 72 points, but about 0.4% shy of its Nov. 27 record of 16097.33.

The Fed Tuesday will begin debating the future of their $85 billion-a-month bond buying plan, which has buoyed stock markets this year, with a decision due after the meeting concludes Wednesday. The S&P 500 index had gained 25.3% so far this year through the close Monday.

After a sharp drop week last week, with the S&P 500 falling 1.6%, the most in a week since the last week of August, stocks are rising to begin this week as some bullish investors come back into the market, said Uri Landesman, president of the $1.25 billion hedge fund Platinum Partners.

Still, Mr. Landesman says, "it is the last gasp, or nearly last gasp of this huge rally." He sees stocks falling through the first half of next year for the most substantial market correction since stock began recovering from the financial crisis five year ago.

"More important than when tapering begins is the slope of tapering," Mr. Landesman said. "Will we go from $85 billion to zero over six months, or over 18 months," he said.

On the economic calendar, the consumer price index for November was unchanged versus expectations for a rise of 0.1% on the month. Excluding food and energy, the index gained 0.2%, slightly more than expected. The National Association of Home Builders' housing market index for December, due out at 10 a.m. EST, is seen increasing to 55 from 54 in November.

The yield on the 10-year Treasury note declined to 2.874% from 2.880% late Monday.

Front-month January crude oil futures dropped 0.3% to $97.20 a barrel. December gold futures slipped 1.1% to $1,232 an ounce.

The dollar fell against the yen, but gained against the euro.

The Stoxx 600 index slipped 0.3%, after gaining 1.3% in the previous session. Germany's DAX shed 0.2%, while London's FTSE 100 lost 0.3%. The losses came despite a positive lead from the U.S. and Asia, and data showing that German economic sentiment is at its most robust level since April 2006.

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December 17, 2013 09:11 ET (14:11 GMT)

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