(News Bulletin 247) – The Paris index ended up 0.5% on Tuesday, while the revision of the American employment figures did not unsettle investors. The markets will follow the publication, in the evening, of the Fed minutes.
After taking a break from its bullish streak on Tuesday, the Paris Stock Exchange started up again on Wednesday.
The CAC 40 gained 0.52% to 7,524.72 points, thus returning above 7,500 points. Investors were waiting for the revision of the American employment figures by the American Bureau of Labor Statistics. Although job creations were significantly lowered, this did not take the market by surprise.
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The expected “minutes”
Over the twelve months from April 2023 to March 2024, the US economy created a total of just over 2 million jobs, compared to 2.9 million initially estimated. That is a downward revision of 818,000 positions. This implies that job creations per month amounted to an average of 174,000 units, rather than 242,000, notes Capital Economics. Despite this downward revision, “job growth remains at a healthy level”, judges the think tank.
Investors will now have to wait until 8 p.m., when the “minutes”, or minutes, of the latest monetary policy meeting of the American Federal Reserve (Fed) will be published.
On the value side, movements were still quite limited. On the CAC 40, Pernod Ricard gained 3%, the biggest increase, while Teleperformance lost 0.9%, the most pronounced decline.
On Wall Street, it is worth noting the diametrically opposed fates of the Macy’s and Target chains after their financial results. The former lost 11% while the latter gained 12.6%.
On other markets, the euro gained 0.01% against the dollar to $1.1141. The eurozone currency has made a spectacular comeback against the dollar in recent weeks. Oil is making a tiny bit of progress. The October contract on North Sea Brent is up 0.2% to $77.39 a barrel, while the same-term contract on WTI listed in New York is up 0.05% to $73.21 a barrel.
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