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It should be noted that despite the public holiday of this Thursday (ascent), the Parisian market will remain open, and this in usual conditions of schedules and quotes. Yesterday the tricolor flagship index, the CAC 40, displayed a prudent posture, contracting at the end of 0.49% at 7,788 points, before the publication of Nvidia, the reference barometer of the technology using artificial intelligence. Results, published since, which are largely in line with expectations. In addition, the Fed minutes, traditional chronological report of the debates of the last monetary policy committee, confirmed the very cautious attitude of the monetary institution.
In the statistical chapter, no surprise on the Manufacturer index of the Richmond Fed, which came out perfectly in line with expectations, at -9. The day before, operators appreciated an increase greater than the expectations of the consumer confidence index (Conference Board).
“Consumer confidence has improved in May after five consecutive months of decrease,” said Stéphanie Guichard, the world’s leading economist, in the Conference Board.
“The rebound was already visible before the Sino-American trade agreement of May 12, but has accelerated later. The monthly improvement is largely due to the expectations of consumers, the three components of the expectations of expectations-economic conditions, employment prospects and future income-having progressed compared to their lower April. Consumers were less pessimistic about Next six months and have found their optimism about future income prospects.
The United States Commercial Court, seized by a group of small businesses, has rendered a symbolic decision: the application of customs duties by the White House is unconstitutional, these measures under the congress. The national emergency character argued by Donald Trump to justify this prerogative having not been retained. This decision, certainly awaited, will not discourage the American president in his trade war, but it is clear that this camouflet has more in Asian markets, closing sharply on Thursday.
On the values ​​side, Thales took 2.1% and Dassault Aviation 2.9%. The two titles are supported by the announcement of the Minister of the Armed Forces, Sébastien Lecornu, of the signing of a letter of intention by Indonesia to acquire, in particular, more burst. Stellantis finally lost 2.2% after the announcement of the appointment of the appointment of a new managing director, Antonio Filosa, a veteran of the company. A decrease a priori not linked to this announcement, all the sector having fell. Renault abandoned 2.2% too. L’Oréal lost 1.9%. According to Investing.com, the JPMorgan bank has placed the action in “Negative Catalyst Watch”, that is to say it expects negative events, in particular a slowdown in growth in data comparable to 0.7% in the second quarter against 3.5% for the first quarter. Soitec plunged 21.8% after giving up its objectives for exercise 2026 as well as in the medium term.
On the other side of the Atlantic, the main shares on shares ended the Red Wednesday session, like the Dow Jones (-0.58%) and the Nasdaq Composite (-0.51%). The S & P500, a reference barometer of appetite for the risk in the eyes of fund managers, contracted 0.56% to 5,8888 points.
A point on the other asset classes at risk: around 8:00 am this morning on the exchange market, the single currency was treated at a level close to $ 1,1270. The barrel of WTI, one of the barometers of appetite for the risk on the financial markets, was exchanged around $ 62.80. THE Treasuries 10 Yearsyield of federal sovereign bonds due to 10 years, was negotiated slightly above 4.52%. As for the Vix, it was worth 19.31 at the last fence of the S&P500.
At the macroeconomic agenda this Thursday, to follow in priority the preliminary data of quarterly GDP and weekly registrations for unemployment benefits across the Atlantic at 2:30 p.m.
Key graphics elements
The gradual cap under the 7,900 points has suddenly turned into intense volatility. In one session Friday, May 23, the Parisian flagship index broke the Dynamics of the spring rally by breaking the mobile average at 20 days (in dark blue), the difference compared to the mobile average at 50 days (in orange) has taken up strongly.
The 7,900 points are reinforced in their graphic resistance status.
FORECAST
In view of the key graphic factors that we have identified, our opinion is neutral on the CAC 40 index in the short term.
We will take care to note that a crossing of the 7900.00 points would revive the tension to the purchase. While a break in the 7690.00 points would relaunch the selling pressure.
The News Bulletin 247 Council
Hourly data graphics
Daily data graphics
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