Piazza Affari closes at +0.40% and almost reaches 40 thousand points

Today the stock markets were positive and they were driven by the data on jobs in the United States, which surprised on the positive side at 2.30 pm and once again changed the narrative on the health of the American economy.

In June, according to official data, nonfarm payrolls increased by 147,000 units, slightly higher than in May and well above the 110,000 expected. Only yesterday, estimates from the private company ADP had instead predicted a decline of 33,000 jobs.

On Wall Street after the data the S&P500 index reaches a new record, +0.88%, as does the Nasdaq, +1.12%. Today the American stock market will close early, at 7 pm Italian time, because tomorrow is July 4, Independence Day.

The odds that the Fed will leave rates unchanged next month jumped from 76% to 93% in one day, driven by labor pressure (source: CME Group's FedWatch Tool). The expectation now is that there will be only two cuts, not three, by the end of the year.

As a result, government bond yields rose, by 3 basis points for the 10-year Treasury, to 4.32%, and the dollar strengthened. One euro is worth 1.761, down about 0.30%.

Following New York, European indices also return to positive territory. In Milan, the Ftse Mib is up 0.40%, returning to almost 40,000 points (39,943); in the rest of Europe, London is up 0.56% and Frankfurt is up 0.64%.

At Piazza Affari, like yesterday, the best performer today is Stmicroelectronics +2.27% after the easing of tension between the United States and China on chip exports. Followed by Tim, +2.12%. Greater losses for A2A and Diasorin, down just over 1%. Among banks, Mps +0.46% following the green light from Consob and the Antitrust Authority to the takeover bid on Mediobanca, which today marks +0.46%.