(News Bulletin 247) – The CAC 40 is progressing at midday during a session where investors are showing a wait-and-see attitude.

After catching its breath on Tuesday, the Paris Stock Exchange is regaining ground. The CAC 40 rose by 0.41% at mid-session on Wednesday, rising back above 7,500 points to 7,516.49 points.

Investors are expecting two events during the day. First, the annual revision of labor market statistics by the U.S. Department of Labor. Normally, this revision goes unnoticed. But in a context where the latest U.S. employment figures had greatly worried investors, the event could be more closely followed than usual.

“These revisions could reveal that the American jobs market is not quite the locomotive that everyone thought it was,” judges Stephen Innes, of Spi AM.

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The minutes to follow

Second, the market will follow, at 8 p.m., the publication of the “minutes” (report) of the last monetary policy meeting of the American Federal Reserve (Fed).

On Friday, Fed Chairman Jerome Powell will then deliver a speech at the Jackson Hole Symposium in Wyoming. “The Fed Chairman is expected to address concerns about the slowdown in the US economy, particularly in the labor market, and the progress made in controlling inflation,” said Ricardo Evangelista of Activtrades.

On the value side, the movements are still tight. On the CAC 40, Pernod Ricard gained 1.9%, the biggest increase, while Danone lost 0.7%, the most pronounced decline.

On other markets, the euro lost 0.04% against the dollar at 1.1127 dollars. The eurozone currency has made a spectacular comeback against the dollar in recent weeks. Oil is making a slight improvement. The October contract on North Sea Brent is up 0.3% to around 77 dollars a barrel, while the same-term contract on WTI listed in New York is up 0.3% to 73.38 dollars a barrel.