(News Bulletin 247) – The Paris Stock Exchange is expected to rise slightly on Wednesday at the opening, even if a certain wait-and-see attitude dominates the markets in the absence of major meetings due to the summer break.

Around 8:15 a.m., the ‘futures’ contract on the CAC 40 index – August delivery – advanced 55 points to 7333 points, announcing a small rebound after the decline suffered the day before (-0.7%).

Like Wall Street, European stock markets suffered yesterday from fears surrounding the health of the global banking system after the warning issued earlier this week by Moody’s on several US regional institutions.

In this context not conducive to risk-taking and in the absence of catalysts, the major benchmark indices dipped on Tuesday, showing some signs of fatigue after their good streak of the past few months.

For the moment, the CAC 40 is only showing a limited decline of 0.6% over the week, a sign that investors are managing to put the growing questions about the debt issue into perspective.

But analysts are worried about the technical configuration displayed by the Parisian index, which has now clearly dented its major short-term support set at 7360 points.

‘On the trend side, everything has to be redone’, estimate the chartists of Kiplink Finance.

‘For the moment, the urgency is not to enter a negative spiral which would force the CAC 40 index to abandon any bullish ambition’, underlines the Parisian manager, who evokes an ‘already decisive’ weekend.

Markets are expected to move little today amid caution ahead of the US Department of Labor’s monthly consumer price report, which may have held up well in July.

As usual, investors will be looking for the long-awaited inflection point in monetary policy tightening as signs of slowing inflation mount.

A slew of data out of the US recently suggested that inflation could soon approach the Federal Reserve’s 2% target without a recession being necessary.

These figures showed that inflation fell to just 3% in June, a deceleration which confirms the possibility of a ‘soft landing’ hoped for by the markets.

The only indicator on today’s agenda, oil stocks in the United States will be published in the afternoon.

In the immediate future, oil prices are consolidating after having benefited from a bullish momentum which enabled them to recover some 20% in just over a month.

Brent is currently down 0.2% around $86 a barrel, while US light crude (West Texas Intermediate, WTI) is also down 0.2% to $82.7.

On the interest rate markets, the time is also calm after the heat wave last week, the yields of 10-year Treasuries falling to 4% in a climate of caution which leads investors to favor safe havens. .

The ten-year German, which was getting dangerously close to historic highs at 2.60%, fell just as sharply on its side, to 2.46%.

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