(News Bulletin 247) – The Parisian index is down at mid-session, the market awaiting the publication at 2:30 p.m. of the PCE index.

A year after Russia invaded Ukraine, the CAC 40 is currently experiencing a much quieter session than that of February 24, 2022 (it had lost more than 3.8%).

The Parisian index is changing slightly down at mid-session (-0.3%) to 7,295.26 points, with caution winning the market before an important indicator. Over the week, the CAC 40 has so far posted a moderate decline of 0.5%.

The PCE index, the Federal Reserve’s (Fed) preferred gauge for measuring inflation, will be released at 2:30 p.m. Economists polled by the Wall Street Journal expect a “core” rate – excluding energy and food prices – stable at 4.4% over one year.

“What markets won’t want to see is prices start to rally, given the current fragility in US equity markets, despite yesterday’s rebound in the S&P500,” comments Michael Hewson of CMC Markets.

Fnac Darty fall

This indicator is all the more watched as the latest economic statistics, of good quality, have led operators to worry about stronger monetary tightening than expected from the major central banks.

For the time being, the market continues to dissect corporate publications. Saint-Gobain, which posted historic records and better-than-expected performances on all of its annual indicators, carried the index with an increase of 5%.

Excluding the CAC 40, Fnac Darty fell 7% after warning that its first half of 2023 would be difficult due to adjustments in household spending and energy costs.

Valeo, for its part, dropped 6.4% after publishing a 2023 outlook that did not please investors.

On other markets, the euro fell 0.1% against the dollar to 1.0587 dollar. Oil prices are moving up slightly. The contract on Brent from the North Sea for delivery in April takes 0.6% to 82.42 dollars a barrel while that on WTI listed in New York for the same expiry gains 0.5% to 75.78 dollars a barrel .