(News Bulletin 247) – The Paris Stock Exchange opted for a rebound this Wednesday, the latest statistics published in the United States rekindle investors’ hopes for the Fed’s rate cuts. The CAC 40 returns to 8,000 points.

The Paris Stock Exchange regained some color the day after a fairly gloomy session. The CAC 40 closed up 0.87% at 8,006.57 points this Wednesday evening. This allows it to erase its decline from the day before (-0.75%) and to lock the threshold of 8,000 points after several unsuccessful attempts at the close.

Investors have regained a bit of a taste for risk after the latest statistics showing a slowdown in the job market in the United States. And it is not the latest ADP report which will contradict this trend, which however remains to be confirmed with the publication of official figures on Friday.

An easing of tensions on the American job market

The American private sector actually created 152,000 jobs in May, according to the report from the private human resources firm ADP. This is much less than the 175,000 job creations expected by economists and the 188,000 new jobs in April.

On Tuesday, the JOLT report already highlighted this easing of tensions on the American job market. This document indicated that 8.059 million positions were available in April, less than the Reuters consensus of 8.355 million offers.

“Yesterday’s lower-than-expected U.S. JOLT data highlighted a tightening labor market in the world’s largest economy, raising hopes for a more dovish approach from the Fed ( American Federal Reserve, Editor’s note) and provided support to the stock markets”, notes Pierre Veyret, technical analyst at Activtrades.

“This is seen as a strong bullish catalyst for traders who have recently struggled to assess the monetary and economic situation on the other side of the Atlantic,” he adds. According to the Fed Watch tool, operators now estimate a first rate cut by the American Federal Reserve in September at 65%, compared to less than 50% last week.

After the Bank of Canada, place at the ECB

The market is also awaiting the monetary policy meeting of the European Central Bank (ECB) on Thursday. A drop in rates has already been factored in by investors who will especially monitor the comments of the president, Christine Lagarde, to anticipate what happens next.

“Strong services inflation in May and strong wage growth in the first quarter could prompt the ECB to exercise caution in the months to come,” considers Capital Economics.

It will therefore follow in the footsteps of the Bank of Canada which launched its monetary easing cycle. It fell by 25 basis points (0.25 percentage points) to 4.75%, a first in four years.

On the value side, OVHcloud gained 7.05%, probably benefiting from cheap buybacks while the stock still showed a plunge of 25% over one month.

Atos (-6.7%), for its part, remained poorly oriented, with a mega-dilution awaiting its shareholders, regardless of the future buyers of the digital services company in great financial difficulty.

On the small and mid-cap side, Nacon once again benefited from its excellent annual results published Monday after the market, and jumped 11.8% the day after an increase of 7.9%.

On other markets, the euro fell by 0.1% against the dollar to 1.0868 dollars. Rising at midday, black gold prices turned downward after the publication of weekly oil stocks in the United States. The August North Sea Brent contract now loses 0.2% to $77.36 per barrel, while the July contract for New York-listed WTI returns 0.3% to $73.03 per barrel. .