(News Bulletin 247) – The long-awaited consumer price indices (CPI) for the month of January have just been published, without causing any major reaction on the yields of government bonds in 10 years, slightly below 3.70. At an annualized rate, and for the largest basket of products, prices rose by 6.4%, slightly slowing compared to December, when expectations were more optimistic (6.2%). Operators are gradually digesting the prospect of maintaining a firm monetary policy throughout 2023.

On the securities side, César Perez Ruiz, Head of Investments and CIO at Pictet Wealth Management returns to the “blunder” of Alphabet during the recent promotional presentation of its conversational AI tool, by broadening the perspectives. “The market sanction was severe […] But artificial intelligence could have a significant impact on the tech landscape sooner than expected. Because if it took sixteen years for the mobile phone industry and three and a half years for WhatsApp to reach 100 million users, ChatGPT took only 2 months to achieve it.

KEY GRAPHIC ELEMENTS

We did not see an island reversal on Friday 03/02, due to the high shadow drawn. What accredit the scenario of a volatile consolidation rather than a reversal. The idea of ​​a pullback on 11,450 points remains entirely credible at this stage. In any case, the new working technical band is between 11,450 and 12,260 points.

FORECAST

In view of the key chart factors that we have identified, our opinion is neutral on the Nasdaq Composite index in the short term.

We will take care to note that a crossing of 12260.00 points would revive the tension in the purchase. While a break of 11450.00 points would relaunch the selling pressure.

The News Bulletin 247 board

Nasdaq Composite
Neutral
Resistance(s):
–
Medium(s):
–

CHART IN DAILY DATA

Graphic made from the software Prorealtime



function creatOutbrainJs() {
const creatJs = document.createElement(“script”);
creatJs.defer = true;
creatJs.src = “https://widgets.outbrain.com/outbrain.js”;
return document.body.appendChild(creatJs);
}

window.didomiOnReady = window.didomiOnReady || [];

window.didomiOnReady.push(function(Didomi) {
console.log(“Didomi ready “);

Didomi.getObservableOnUserConsentStatusForVendor(164)
.filter(function (status) { return status !== undefined })
.subscribe(function(consentStatus) {
if (consentStatus === false || consentStatus === true) {
console.log(“Didomi consent -> exécution du script outbrain “, consentStatus);
creatOutbrainJs()
}
});

});