(News Bulletin 247) – The Parisian index is nibbling ground at mid-session on Tuesday. Investors await Jerome Powell’s hearing in the Senate.

Without taking too many risks, the CAC 40 remains well oriented. The flagship index of the Paris Stock Exchange advances by 0.21% to 7,388.71 points at mid-session on Tuesday, after reaching a historic high the day before (in session but not at the close) at more than 7,401 points .

Investors will be watching Federal Reserve (Fed) Chairman Jerome Powell’s hearing this afternoon before the Senate Banking Committee. On Wednesday, he will speak before the other chamber of Congress, the House of Representatives.

Obviously, market operators will try to detect the slightest clue in the words of Jerome Powell on the next rate hikes of the Fed. For now, investors are giving a 72% chance of a 25 basis point or 0.25 percentage point hike at the Fed’s next meeting on March 22.

At his last press conference in early February, Jerome Powell said a “disinflation process” had begun, which the market saw as an accommodating signal.

“I think it would probably be wiser for Powell to maintain his previous tone. [prudent, NDLR] because it could risk spooking the markets. But if the Fed’s monetary policy committee is really considering a 50 basis point hike this month, it would be a good opportunity to lay the groundwork for that hike,” said Craig Erlam of Oanda.

Sanofi leads the CAC 40

In terms of values, no very big variation on the CAC 40, even if the values ​​considered defensive like Sanofi + (1.4%) and Air Liquide (+ 1.25%) are well oriented. Sanofi has also announced that the Food and Drug Administration, the American health authority, has accepted the application for an indication for Dupixent, the French group’s flagship drug, for the treatment of chronic spontaneous urticaria in adults and children. teenager from 12 years old.

As for the smallest caps, the green chemist Global Bioenergies lost 20% after announcing a capital increase with a target amount of 7.5 million euros to finance its development.

On the other markets, the euro lost 0.2% against the dollar at 1.0663 dollars. Oil loses some ground. The North Sea Brent contract for May delivery dropped 0.3% to $85.97 a barrel while the New York-listed WTI contract for April delivery lost 0.2% to $80.32 a barrel. barrel.