(News Bulletin 247) – The CAC 40 is moving up slightly in mid-session this Friday, barely recovering from the bamboo blow of the day before. Investors are feverishly awaiting the publication of the US employment report in the early afternoon.

Clearly the Paris Stock Exchange is still stunned from its plunge on Thursday. At mid-session this Friday, the CAC 40 gained 0.48% at 7,116.30 points, after losing 3.1% the day before, its second biggest decline in 2023. the week, the CAC 40 has for the time being dropped by around 3.8%.

The market plunged on Thursday, worried about the tightening of monetary policies, that of the American Federal Reserve (Fed), in the lead, following the publication of the minutes of the last monetary policy meeting of the American institution, showing that the June pause on rate hikes had been debated. The trend was also reinforced by the much better than expected figures on employment in the private sector from the ADP cabinet.

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But these independent statistics aren’t always a perfect approximation of Labor Department data on the US labor market. However, the official figures, contained in the report on non-agricultural employment, will be published this Friday afternoon, at 2:30 p.m.

Economists expect 240,000 job creations in June and an unemployment rate of 3.6%, according to the consensus compiled by the wall street journal.

SES-imagotag about to win its battle against Gotham City Research?

“If the figures published today are higher than the forecasts and the actual publication shows that there is an echo of the message of yesterday (in the figures from the ADP cabinet, editor’s note), we believe that the actors markets are likely to become a little more risk averse as expectations will be that the Fed is going to make some rate hikes,” said Zaye Capital’s Naeem Aslam.

On the geopolitical front, US Treasury Secretary Janet Yellen is currently on tour in China in a tense context between the two countries. Li Qiang, Chinese Premier, said he sees a kind of “rainbow” in relations between China and the United States. But in the context of a diplomatic visit, these remarks are obviously subject to caution.

On the stock side, SES-imagotag jumped 35% after yet another protrusion from short-seller Gotham City Research, which released the second installment of its vitriolic report against the company. But the market was probably expecting more frank and concrete attacks, while this second volume does not provide any really brutal additional elements.

Saint-Gobain wins 1.4% benefiting from an increase in buying advice from Stifel. Airbus is up 1% after reporting 72 aircraft deliveries in June, a marked increase in the pace, which lends credibility to its target of 720 aircraft delivered for the whole of 2023.

On the other markets, the euro lost 0.1% against the dollar at 1.0881 dollar. Oil prices are moving a little in the green. The contract on Brent from the North Sea for delivery in September is up 0.6% at 76.96 dollars a barrel while that on WTI listed in New York for August is up 0.6% at 72.20 dollars on barrel.