(BFM Stock Exchange) – The Parisian index completes this week in a standstill despite the records of several of its residents including Legrand, and a morale of the American consumer better than expected.

The initial rebound in the Paris Stock Exchange will not have held. A little breathless, the CAC 40 symbolically won 0.01% to finish its race at 7,822.67 points at the end of this Friday, July 18.

The new S&P 500 record was not a source of inspiration for the Parisian star index, which loses 0.08% in weekly rhythm.

In Wall Street, operators have read a new indicator attesting to the resistance of the US economy to the Trump administration’s commercial policy. The morale of American households has indeed improved more than expected in July, according to preliminary figures for the monthly survey of the University of Michigan.

The American consumer confidence index increased at 61.8 points for the current month, against a consensus of 61.4 points, and after 60.7 points in June. American consumers also expect lower inflation this year, 4.4%, against anticipations housed at 5% in June.

This statistic was published the day after the announcement of a retail rebound in June and a drop in the number of job seekers last week in the United States.

Solid American statistics

These solid statistical statistics even more support the probabilities of a monetary status quo at the end of this month of July, to the chagrin of Donald Trump, who continues to put pressure on the boss of the American Federal Reserve (Fed) Jerome Powell, so that he can carry out rate cuts.

“President Trump has renewed his attacks on Jay (Jerome) Powell at the start of the week, apparently by asking a group of republican legislators if he had to dismiss the president of the Fed. The reason? He considers that interest rates are too high. However, it is far from being obvious that the American economy currently justifies heavy drops of rate, if it is needed,” said J. Sarasin in a note published this Friday.

However, Christopher Waller, one of the FED governors, said it displayed “his preference for a drop of 25 base points (0.25 percentage points) at the end of July” during a speech in New York.

“However, Waller is unlikely to obtain the support of the FOMC (Monetary Policy Committee of the Fed, editor’s note) in July and that is why the movements on the bond market are modest,” said Jim Reid Economist at Deutsche Bank.

Legrand shines

On the values side, Legrand took 2.6% and affected a new history higher in session at 125.85 euros. The specialist in electrical equipment had packed the Parisian place on Thursday, after a solid publication, accompanied by an increase in its annual growth objective.

Vivendi jumped 13.3% while the AMF forced Bolloré to deposit within six months, a public purchasing offer followed by a withdrawal, on the former penny of the CAC 40.

In other markets, the euro climbs 0.28% against the dollar to 1.1648 dollars. Oil is sluggish. The September contract on the Brent de Mer of the North gives up 0.07% to 69.47 Dollars per barrel while the August that on the WTI listed in New York nibbles 0.06% to 67.58 dollars per barrel.