The New York Stock Exchange is expected to open slightly higher on Friday morning, following its decline of the previous day, even though many questions remain concerning the trajectory of interest rates in the United States.

Half an hour before the opening, futures were up between 0.2% and 0.3%, suggesting a timid rebound from Thursday's bearish trend reversal.

Despite Nvidia's well-received results, the US equity markets yesterday experienced their worst session since the beginning of May, despite a favorable start.

Once again, the rise in bond yields fuelled investor nervousness, against a backdrop of persistent uncertainty as to the timing of the Fed's next rate cuts.

On the bond market, the yield on 10-year Treasury bonds resumed its upward slope to flirt with the 4.50% mark yesterday, having fallen to one-month lows last week.

After Wall Street's solid performance since the beginning of May, due precisely to a fall in bond yields, investors used the tensions on bonds as an excuse to take some of their profits.

At this stage of the week, the Dow Jones is down over 2% on the week, while the Nasdaq is down around 0.3%.

In a strategy note, IG analysts highlight the existence of a "dangerous cocktail" on Wall Street, consisting of a VIX at its lowest since 2019 and a high valuation multiple for the S&P.

On the economic front, the Commerce Department reports durable goods orders up 0.7% last month compared with the previous month, following a sequential rise of 0.8% in March

Investors now await the University of Michigan's consumer confidence index, which should confirm that household morale is gradually deteriorating.

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