(News Bulletin 247) – The Paris Stock Exchange closes higher pending the publication of a series of data relating to prices in the United States. The CAC 40 increased by 0.60% this Monday evening.

The Paris Stock Exchange starts the week on the rise, awaiting key data on prices in the United States. The CAC 40 finished in the green, with a gain of 0.6% to 7,087.06 points after a brief foray to 7,100 points, around 10:00 a.m.

On Wall Street, on the other hand, the start of the week is tinged with caution, with the Dow Jones rising by 0.3%, the Nasdaq almost in balance while the S&P 500 nibbles only 0.1% at the close of the European markets.

American investors are only reacting moderately to Moody’s decision to lower its outlook on the United States’ credit rating to negative. However, the rating agency did not change the American rating, still maintained at AAA. This decision comes amid the specter of a shutdown, that is to say a blockage of the federal administration if Democrats and Republicans do not reach an agreement on the budget for 2024, by midnight Friday evening. So the clock is ticking…

Another point which will focus the attention of the markets is the data relating to prices, particularly in the United States. In detail, the consumer price index in the United States for the month of October is expected on Tuesday, a statistic which is favored by the American Federal Reserve to gauge the strength of prices. Then producer prices and retail sales for October (still in the United States) will be published the next day (Wednesday).

This data will be closely scrutinized by investors looking for indications on the monetary policy of the world’s major financiers, with the American Federal Reserve and the European Central Bank in the lead.

Note the highly anticipated meeting between American President Joe Biden and Chinese leader Xi Jinping scheduled for Wednesday in San Francisco. This is the first meeting between the two leaders in a year.

Orpea falters

On the value side, Orpea ended sharply down 14.5% this Monday, the operator of retirement homes having kicked off its major financial restructuring.

Solutions 30 gained 10.9%. The group is joining forces with the German GlasfaserPlus to deploy fiber in homes in Saarland and Bavaria.

On the foreign exchange market, the euro gained 0.10% to 1.0698 dollars. On the oil price side, they are accelerating their gains. A barrel of Brent from the North Sea, for delivery in January, rebounded 1.6% to $82.69. Its American equivalent, a barrel of West Texas Intermediate (WTI) for delivery in December gained 1.5% to $78.34.