(News Bulletin 247) – The Paris Stock Exchange should open lower on Friday morning, in line with Wall Street the day before, investors waiting without believing it too much for a reassuring speech from the President of the Federal Reserve, Jerome Powell, in the occasion of the summit of Jackson Hole.

Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – September delivery – fell 12 points to 7218.5 points, announcing a cautious start to the session to say the least.

The attention of the operators will turn from 4:00 p.m. to the intervention of the boss of the Fed, who is to speak at the Jackson Hole symposium, the annual meeting of the main central bankers of the planet.

Market participants are hoping for signs that the Fed is ready to end its rate hike cycle, while fearing disappointment.

For economists at Deutsche Bank, Powell should indeed refrain from providing signals that are too obvious as to the evolution of monetary policy in the short term.

“The message of data dependency that characterized the last FOMC was sufficiently clear, and it is probably still too early to abandon this approach,” said the German bank.

Since the beginning of the week, volumes have been exceptionally weak, a sign that investors are reluctant to commit, for lack of information on the intentions of the American central bank.

The publication of Nvidia’s results, which were much better than expected, did not provide much support, nor did the recent decline in US bond yields.

In this context, US equity markets ended in the red on Thursday, with losses of 1.1% for the Dow Jones and a more worrying slippage of 1.5% for the Nasdaq, which is approaching its support. major of 13,300 points.

At this stage of the week, the CAC 40 index is posting a weekly gain of around 0.7%.

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