(News Bulletin 247) – The Paris Stock Exchange should start on a cautious note on Wednesday morning at the start of a session marked by a series of statistics, including the highly anticipated inflation figures in the United States.

Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – delivery at the end of May – nibbles three small points to 7397 points, suggesting an opening without much change.

The Parisian market had closed Tuesday’s session on a decline of 0.6%, below the threshold of 7400 points, in the wake of luxury stocks affected by weaker than expected activity figures from China.

After four months of increases, the stock market rally at the start of the year has come to a halt since the end of April and the situation seems to be getting a little more delicate now that investors realize that central banks could be less benevolent than expected.

Graphically, the CAC 40 remains close to its ‘neutral’ zone of 7440 to 7480 points, but retains enough technical elements to quickly come to exceed the threshold of 7500 points, however, estimate technical analysts.

‘We can reasonably believe in a rise in the index on the major resistance of 7550 points’, say the Kiplink Finance teams.

‘A contrario, a fracture of the support of 7375 points would replace the CAC 40 index in a longer-term downward trend’, warns the Paris stock exchange company.

The day promises to be busy with a battery of indicators on the agenda, including the final German inflation figures for April.

Investors will mainly take note, at 2:30 p.m., of the consumer price index in the United States, an indicator likely to modify expectations in terms of monetary policy.

The consensus of economists expects a slowdown in the consumer price index (CPI) to +0.3% in its basic version (‘core’) in April, against +0.4% the previous month.

Better-than-consensus numbers could reignite fears of another Federal Reserve rate hike and encourage a further push in government bond yields, which have been rising since the start of the month.

On the bond market, the yield on the 10-year US bond stabilized around 3.52%. For its part, the German 10-year rate is moving to 2.34%.

The session will also be colored by new corporate publications. Among the companies that published before the opening, Crédit Agricole announced better-than-expected results in the first quarter.

Alstom for its part delivered good results for its 2022/23 financial year in a growing rail market and has set itself the target for the 2023/24 fiscal year of an adjusted operating margin of around 6% .

Tonight, it will be the turn of the American entertainment giant Disney to unveil its quarterly accounts.

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