(News Bulletin 247) – The Paris Bourse is expected to open higher on Thursday, supported by better than expected quarterly results from Nvidia, before investors’ attention turns to the top of Jackson Hole.

Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – September delivery – rose by 51.5 points to 7316.5 points, announcing a start to the session in the green.

While the markets worried about a possible slowdown in the global economy, the results of the designer of processors immediately appeased investors’ concerns about growth.

The action of the Californian group jumped by more than 6% in pre-market quotations, the day after the publication of record results, also driven by the announcement of a gigantic plan to buy back shares of 25 billion dollars.

The performance of the AI ​​specialist, whose share has already climbed 225% this year, should thus consolidate its status as a tech giant with a market capitalization which now exceeds 1,000 billion dollars and incidentally give a boost to technology stocks.

‘With a Fed poised to forgo its rate hikes (and possibly lower them in 2024), the environment is becoming more conducive to risk-taking in the second half of the year’ Dan Ives, analyst at Wedbush.

For this market specialist, the ‘rally’ of the technology sector is only at its midpoint since he anticipates another 12 to 18 months of upward trajectory, mainly thanks to stocks linked to AI.

Another positive element in the eyes of investors is the sharp decline in bond yields, which in particular sees ten-year Treasuries posting a yield of 4.19%, against another 4.35% at the start of the week.

The bond market is now awaiting Jerome Powell’s speech in Jackson Hole on Friday in hopes of finding further clues about the possibility of less restrictive monetary policy.

At this point, rate futures are pricing in a mere 13.5% chance of another rate hike in September, according to the CME Group’s FedWatch Barometer.

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