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Digestion of the American inflation figures last week, the day after a public holiday in the United States and on the eve of the highly anticipated publication of NVidia, the session had everything to be dull. It will have been somewhat illuminated by Air Liquide, the core portfolio file of a large number of individual investors, which delighted the financial community with its quarterly copy. Air Liquide alone (+8.26% to 185.86 euros, more than 1,600,000 coins exchanged) will have enabled the CAC 40 to symbolically close in the green (+0.34%), in this famous working band between 7,700 and 8,000 points, where numerous technical lessons are expected.
The industrial gas specialist published growth above expectations in the fourth quarter and now plans to increase its operating margin by 320 basis points over the 2022-2025 period, compared to 160 points previously. The group will again distribute free shares to its holders in June. What he does regularly. Find all the information on this publication here.
To be complete on the value side, Carrefour increased by 2.45% while the distributor will reveal its annual results after the market closes. Excluding the CAC 40, Bic is up 8.7% driven by a clear jump in its profitability in the fourth quarter. Forvia plunged 9.7% after having already lost 12.7% the day before following the publication of its annual results. If the accounts were relatively satisfactory, Deutsche Bank emphasizes that the stock suffered from questions from the market on the quality of cash generation, with questions about the improvement in working capital requirements. The entire automotive equipment sector was attacked, like Valeo (-4.16%), Plastic Omnium (-1.08%), and Akwel (-2.34%).
On the other side of the Atlantic, the main equity indices finished in the red, like the Dow Jones (-0.17%) and the Nasdaq Composite (-0.92%), far however from their session low points. The S&P500, the benchmark barometer of risk appetite in the eyes of fund managers, contracted by 0.60% below the symbolic threshold of 5,000 points.
Awaiting its annual publication this Wednesday after the market, Nvidia has become the most traded stock on the New York Stock Exchange, dethroning Tesla as investors strengthen their bets linked to artificial intelligence (AI). Remember that the historic specialist in high-performance graphics cards has seen its stock market destiny linked to the demand for artificial intelligence in recent months. The reason: new generation conversational robots are extremely demanding in computing resources, a renowned expertise at NVidia, used until now in other areas, in particular that of image and video game entertainment.
The chipmaker’s quarterly figures, released Wednesday, will be one of the most closely watched events of the week on Wall Street. Some strategists warn that only record numbers could continue to support the rally that sent the stock soaring 47% in 2024.
Find here our article on NVidia and the craze for AI.
An update on other risky asset classes: around 8:00 a.m. this morning on the foreign exchange market, the single currency was trading at a level close to $1.0800. The barrel of WTI, one of the barometers of the appetite for risk on the financial markets, was trading around $77.20.
On the agenda this Wednesday, to follow at 8:00 p.m. the Fed Minutes, traditional report of the last monetary policy meeting (FOMC).
KEY GRAPHIC ELEMENTS
The index crossed 7,700 points on gap and entered an unexplored navigation zone between 7,700 and the symbolic threshold of 8,000 points. The oscillatory RSI (relative strength index) is recovering, suggesting a final bullish surge before consolidation that can be broken down into several legs.
FORECAST
Considering the key graphical factors that we have mentioned, our opinion is negative on the CAC 40 index in the short term.
This bearish scenario is valid as long as the CAC 40 index is below resistance at 8000.00 points.
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