OF Morning Bulletin

European equity markets expected to rise after the new S&P 500 record. The Eurostoxx 50 opens at 4,078.89 points (+0.36%), the CAC 40 at 6,553.82 points (+0.71 %), the DAX 30 at 15,603.81 points (+0.47%), the FTSE 100 at 7,125.16 points (+1.25%), the SMI at 11,977.03 points (+0.29%), the AEX at 731.33 points (+0.25%), the BEL 20 at 4,166.44 points (+0.98%), the IBEX 35 at 8,932.30 points (+1.26%), the DJIA at 34,633.53 points (+0.38%), the Nasdaq at 14,522.38 points (+0.13%), the S&P 500 at 4,319.94 points (+0.52%) and the Nikkei 225 at 28,767 .88 points (+0.21%).

Regarding the exchange rate, at 06:50 the change from the close in New York indicates that the EUR/JPY remained unchanged at 132.17, the EUR/USD lost 1.1846 (0. 05%) while USD/JPY gained 111.58 (0.04%).

The Aix-en-Provence economic meetings open on Friday and end on Sunday. The inaugural session will be marked by a speech by the President of the European Central Bank (ECB), Christine Lagarde.

On the business side, no event is on the agenda this Friday. S&P Global Ratings on Thursday raised Vallourec's credit rating from "partial default" to "B" following the restructuring of the oil services group's debt. The group announced during the day that it had reduced its debt by half through capital increases.

European equity markets are expected to open higher on Friday, while the S&P 500 index closed in the green for the sixth consecutive session. At 7:15 a.m., the CAC 40 futures contract gained 17.4 points, or 0.3%, according to data from broker IG Markets. The contract on the DAX 30 gained 24.1 points, or 0.2%, and that on the FTSE 100 rose by 16 points, or 0.2%. The focus will be on Friday on the publication of the report on non-farm payrolls in the United States. Economists polled by the Wall Street Journal predict that 706,000 jobs will have been created in June.

The New York Stock Exchange ended higher on Thursday and the S&P 500 reached a new all-time high, after the publication of favorable indicators for the American economy. The Dow Jones index ended with a gain of 0.4%, to 34,633.53 points, continuing to approach its record of the beginning of May of more than 34,777 points. The broader S&P 500 index hit a new all-time high of 4,319.94 points. The Nasdaq Composite for its part gained 0.1%, to 14,522.38 points, also very close to its last record reached at the start of the week.

In Asia, the main stock market indices followed a contrasting trend on Friday. At the end of the session, the Nikkei index of the Tokyo Stock Exchange gained 0.2%, while the Shanghai Composite and the Hang Seng index of the Hong Kong Stock Exchange each fell by 1.6%.

US Treasury bond rates ended higher on Thursday for the start of the second half of 2021. Long-term debt securities come out of a quarter in which their yields fell the most since the first quarter of 2020. The rate of the 10-year US Treasury bond rose on Friday morning to 1.466%. It stood at 1.455% on Thursday, down from 1.443% on Wednesday.

The euro lost some ground on Friday morning against the dollar and was unchanged against the yen. The greenback is almost stable against the Japanese currency. The US jobs report will need to be particularly strong to drive the dollar up sustainably, TD Securities said. TD Securities analysts expect the creation of 800,000 net jobs in June, while the consensus established by the Wall Street Journal is 706,000.

Oil prices fell slightly on Friday. According to press reports, the Organization of Petroleum Producing Countries and its allies (OPEC+) could increase their production by less than expected. According to the information, an internal committee of the group has proposed that production be increased by 400,000 barrels per day each month over the period from August to December, less than the volume of 500,000 barrels per day previously mentioned, NAB said. The OPEC+ summit was postponed to Friday after a late objection from the United Arab Emirates, NAB adds. Around 7:25 a.m., the September contract on North Sea Brent was down 14 cents, at $75.70 a barrel, and the August contract on Nymex-listed light sweet crude (WTI) was down 5 cents, at $75. $18 a barrel.