CAC 40: Approaching the 7,900 points

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At Wall Street, the S&P 500 has scored a new earlier, carried by a rebound at the end of the session despite the publication of a production price index of July in net acceleration ( +0.9 % over a month, +3.3 % over a year, higher since February). This thrust, fueled by the services, moderated anticipation of lower rates in September, the probability of a relaxation going from 100 % to 93 %. In this context, the markets also closely followed the signals upstream of the summit between Donald Trump and Vladimir Putin on Ukraine, the outcome of which could have major geopolitical implications.

On the American microeconomic level, Berkshire Hathaway continued the arbitration of his portfolio by giving up 20 million Apple shares for more than $ 4 billion, while strengthening its positions in several values, including Unitedhealth ($ 1.6 billion) and Chevron.

Intel jumped after information referring to discussions with the American administration with a view to taking public equity to support its semiconductor mega-factory project in Ohio.

Applied Materials greatly fell after quarterly forecasts lower than expectations, invoking a slowdown in demand in China and export delays.

Nu Holdings has published a quarterly net profit up 42 % to $ 637 million, driven by income growth and cost control.

Thyssenkrupp lowered its annual prospects, anticipating a decrease of 5 to 7 % of its turnover and an adjusted EBIT at the bottom of the range, under the effect of the low demand and trade tensions.

In Europe, the defense values remained well oriented before the Trump-Putine summit, Thales, Airbus and Rheinmetall appearing among the strongest sectoral increases.

IT Link announced a half -year turnover up 0.8 % (+1.6 % excluding calendar effect), with a decline in France linked to the automotive sector but international growth.

RWE recorded a clear decline in its income and its profit in the first half, while confirming its annual objectives and its dividend policy.

Adyen has lowered her annual forecasts, invoking the impact of American customs duties, with half -yearly results in expectations, which has strongly weighed on the title. The title limited its withdrawal to 4/5% after falling by more than 20% in session.

For the meeting of the day, attention will focus on the United States on retail sales, industrial production and the Michigan confidence index, so many indicators likely to influence anticipations of monetary policy. On the geopolitical level, the markets will closely follow the meeting between Trump and Putin, whose discussions will focus on Ukraine, control of strategic armaments and economic cooperation.

Key graphics elements

Technically, the Parisian index approaches its resistance to 7,941 points, level likely to contain the courses at first. The rapid progression towards this threshold suggests the need for a consolidation phase in order to reconstruct a potential buyer before a possible break. The folds to the mobile averages at 20 and 50 periods are a first support and reinforcement area.

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