CAC 40: direction the 7,900 points

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European markets should start the session in the green, in the wake of gains marked at Wall Street, where the S&P 500 (+1.13 %) and the NASDAQ 100 (+1.33 %) have scored new records, while the Dow Jones increased by 1.10 %. Optimism was revived by a consumer price index in July came to 2.7 % over one year, below forecasts (2.8 %), bringing almost 94 % the probability of a drop of 25 base of the Fed in September. Some political leaders, including the secretary of the Treasury Scott Bessent, even evoke a relaxation of 50 base points. The Core component, on the other hand, accelerated at 3.1 % against 3 % anticipated, a sign of persistent underlying inflation, but that the equity markets have chosen to ignore for the moment.

Donald Trump maintains the pressure on the Fed, minimizes the inflationary impact of customs duties and continues his hard line on foreign trade. In parallel, he appointed EJ Antoni at the head of the Bureau of Labor Statistics, which proposes to suspend monthly employment on employment, a measure which arouses questions about the transparency of economic data. The White House has so far announced that the publications will remain monthly. The meeting planned in Alaska with Vladimir Putin, centered on Ukraine, remains a point of geopolitical vigilance.

In Europe, yesterday’s session was contrasted. The CAC 40 gained 0.71 % at 7,753 points, supported by Stmicroelectronics (+4.18 %) in the wake of the semiconductor rally in the United States. The DAX fell 0.23 %, penalized by the sharp drop in SAP (-6.96 %), a victim of doubts about the cost/benefit of investment in artificial intelligence, and by a ZEW index of German economic feeling in net withdrawing 34.7 in August against 52.7 in July.

Sartorius distinguished himself in Frankfurt with a jump of 7.41 % after a bullish recommendation from Jefferies.

This day the investors will closely follow the TUI title which has exceeded expectations in its quarterly operational profit thanks to a robust summer offer, while warning that 2025 could remain complicated.

They urged the German regulator to identify investment yields in the electricity network to avoid a delay in infrastructure, while Thyssenkrupp Nucera has dug its losses against a background of project reports in a sluggish hydrogen market.

Vestas, for its part, has published an operating profit below anticipations, while maintaining its annual objectives.

Key graphics elements

Technically, the Parisian index returns to contact with the high terminal of the Gap and could, thanks to the good fence of Wall Street last night, have conditions today to fill it. A crossing at the end of the mobile average at 20 periods would open the way towards the summer lens, located on the high trading terminal ranges at 7,941 points.

FORECAST

In view of the key graphic factors that we mentioned, our opinion is positive on the CAC 40 index in the short term.

This bullish scenario is valid as long as the CAC 40 index rating above the support at 7682.00 points.

Hourly data graphics

Daily data graphics