Continue on sell-off in technology stocks in the last session of the week. Fears about the sustainability of the growth of artificial intelligence initially weighed on the Asian markets and then on wall street, where the correction triggered by the disappointing outlook continues Broadcom. So, after Thursday's declines, European sector stocks continue to sell off, with StMicroelectronics dropping significantly in Milan moving to the bottom of the Ftse Mib, in Frankfurt it also dropped heavily Infineon while in Paris they go down St e Schneider Electric. The big names listed in Amsterdam are also in the red, with Asm International, Be Semiconductor e Asml Holding in sharp decline.
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Also weighing on US stocks are the solid data on the labor market, closely monitored in view of the Federal Reserve's upcoming decisions. Employment increased by 172 in May, versus the 85 expected, while the unemployment rate remained stable at 4,3%. Specifically, the private sector created 120 jobs and the public sector 52, with signs of overall labor market resilience that support the view of a still resilient economy. The strengthening labor market is pushing up the Treasury yields and reduces expectations of rate cuts by the Fed, fueling the hypothesis of a more restrictive monetary policyThe theme of “higher for longer” rates continues to reverberate across markets, with pressure on technology and sectors more sensitive to the cost of money.
The situation in the spotlight is also Middle East, with Hezbollah having rejected the ceasefire in Lebanon and the US president, Donald Trump, who declared that the United States will win the conflict with Iran, "one way or another, whether on paper or militarily." Tehran, for its part, stated that the draft agreement with the US contains "ambiguities" that need to be clarified.
On the stock market, Business Square sales continue also on Prysmian, in the wake of the sell-off in tech stocks. Also down Diasorin after the rally on the previous day which saw the stock gain more than 7 percentage points. Opposite front for Inwit, which is in the lead. Good also Saipem e AmplifonUtilities remain well-positioned with Italgas, Terna, and A2a. Banks are reeling: following the Deputy Prime Minister's remarks, Matteo Salvini, who relaunched the request for a "contribution" to the banking system citing Unicredit e Understanding St. Paul, in light of the record profits recorded.
On the energy front, they are weakening oil prices. Slightly up gas in Amsterdam. On the currency market, the euro/dollar remained little changed. The Bitcoin under $62.000.
