Caution reigns ahead of US inflation figures. At the start of the week, European equities are expected to decline. The Eurostoxx 50 opened at 4,170.35 points, down 0.16%, the CAC 40 at 6,663.77 points (-0.31%), the DAX 30 at 15,609.81 points (-0.09 %), the FTSE 100 at 7,029.20 points (+0.07%), the SMI at 12,060.64 points (-0.46%), the AEX at 788.49 points (+0.17%), the BEL 20 at 4,178.00 points (-0.90%), the IBEX 35 at 8,695.30 points (-1.20%), the DJIA at 34,607.72 points (-0.78%), the Nasdaq at 15,115.49 points (-0.87%), the S&P 500 at 4,458.58 points (-0.77%) and the Nikkei 225 at 30,299.63 points down 0.27%.

As for FX, the change from the New York close indicates EUR/USD opens at 1.1796 down 0.13%, EUR/JPY at 129.71 (-0.08%) and the USD/JPY 109.96, an increase of 0.04%.

Orange should be followed on Monday, because its CEO Stéphane Richard revealed this weekend his ambitions to remain chairman of the board of directors of the telecom operator within the framework of a separate governance at the end of his mandate in May 2022. In an interview with the Journal du Dimanche, the manager said he had a "personal wish" to remain chairman of Orange "in a renewed and dissociated governance". He would thus give up the position of general manager. "I think it's a good thing, if the tandem works," said Stéphane Richard, who did not wish to comment on the identity of the future general manager.

European equity markets are expected to open slightly lower on Monday amid caution ahead of the release of monthly US inflation figures and after news reports of Beijing's new assault on the tech sector Chinese. At 7:50 a.m., the CAC 40 futures contract lost 7.4 points, or 0.1%, according to data from broker IG Markets. The contract on the DAX yielded 16 points, or 0.1%, and that on the FTSE 100 advanced by 2 points, or 0.03%. Economists polled by the Wall Street Journal anticipate a 5.4% rise in consumer prices across the Atlantic in August, as in July.

In this context, Wall Street closed lower on Friday, also hampered by uncertainties about the health situation in the United States where the number of Covid-19 cases is increasing sharply. The Dow Jones Index (DJIA) lost 0.8% to 34,607.72 points, and the broader S&P 500 index lost 0.8% to 4,458.58 points. The Nasdaq Composite ended down 0.9% at 15,115.59 points. For the week as a whole, the DJIA lost 2.2%, the S&P 500 fell 1.7% and the Nasdaq 1.6%. After a string of record highs for US indices this year, many analysts are beginning to warn investors of turbulence in the weeks and months ahead.

The S&P 500 index has broken 54 records this year, a situation not seen since 1995, and analysts believe that the probability of a decline, or at least a stabilization of the indices, is increasing. In Asia, the main stock market indices are moving in the red on Monday, penalized by the missile launch carried out by North Korea over the weekend and the regulatory setbacks of technology companies in China. According to the Financial Times, the Chinese government is considering dismantling the mobile payment application Alipay, which is controlled by Alibaba. The parent companies of the main mobile payment players in China, Alibaba and Tencent, lost 6% and 3.5% respectively. Soho China plunged on its side by 32.5%. In Japan, the Nikkei index fell by 0.2%, while the Shanghai Composite yielded 0.05%.

Yields on US Treasury bonds rose on Friday, in response to the release of another sharp rise in US producer prices in August. Over the week as a whole, however, they changed little. Bank of America anticipates a rise in the yield on the ten-year Treasury bond to 1.55% by the end of the year. At 7:50 a.m., this rate stood at 1.332%.

The euro retreated against the dollar on Monday morning in a general climate of risk aversion, generated by concerns about US economic growth and regulatory tightening in China. There are concerns about growth as well as rising inflationary pressures, IG points out, while regulatory tightening in China appears far from over.

Oil futures are gaining ground on Monday morning, buoyed by the agreement reached between Tehran and the International Atomic Energy Agency (IAEA) on monitoring Iran's nuclear program and by the difficulties of the American oil sector in get back on their feet after Hurricane Ida. As of 7:40 a.m., the November North Sea Brent contract was up 19 cents, at $73.11 a barrel. The October contract on Nymex-listed light sweet crude (WTI) was up 22 cents, at $69.94 a barrel.