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On Gap Haussier ample, the CAC 40 index crossed the symbolic threshold of the 8,000 points on Thursday, causing significant energy release after several months of the channel. And this while Wall Street continues historical records, with the prospect of seeing the Fed accelerate its monetary easing process. The reason? A confirmed deterioration in the health of the job market, readable this week on the ADP firm survey or new JOLTS job offers. Note that the long -awaited publication of the NFP report this Friday could be postponed, due to the Shutdown.
“The figures published this week, and in particular the ADP report, still validates the hypothesis that the labor market is in high slowdown. This could even deteriorate more with the Shutdown,” says Bastien Drut. “Consequently, there is no doubt that the Fed will continue its cycle of rate drops: will the question become ‘accelerating this cycle?'” Asks the market specialist.
On September 18 at the end of a FOMC which will be a date, the Fed had then shyly resumed, and cautiously, its monetary easing process, by a drop of 25 basic points of the main guiding rate, the “rent” of the dollar.
As for values ​​on the Paris Stock Exchange, Stellantis signed the highest increase in CAC 40, with an increase of 8.3%. The leap of the title is due to good commercial figures of the company in September in the United States, with a strong rise in its market share. Thales won 3.4% while, according to Reuters, Kepler Hair raised his advice to “buy” against “keep”, according to Reuters. Luxury was well oriented, LVMH increased by 3.6%, Hermès gained 2.75%. The Italian group Brunello Cucinelli, a small player in the sector, delivered preliminary results testifying to a robust activity in the third quarter.
On the other side of the Atlantic, the main shares on shares finished the session of Thursday in the green, in narrow margins, like the Dow Jones (+0.17%), or the Nasdaq Composite (+0.39%). The S & P500, a reference barometer of appetite for the risk in the eyes of fund managers, ended in equilibrium (+0.06% at 6,715 points).
A point on 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 $ 1,1730.
> The barrel of WTI, one of the barometers of appetite for the risk on the financial markets, was exchanged around $ 61.00.
> THE Treasuries 10 years, yield of federal sovereign bonds due to 10 years, were negotiated slightly above 4.10%.
> As for the Vix, it was worth 16.60 at the last fence of the S&P500.
At the macroeconomic agenda this Friday, to follow the final data of the PMI Services index in the euro zone at 10:00 am.
Key graphics elements
On Gap Haussier ample, the CAC 40 index crossed Thursday, October 02, the symbolic threshold of the 8,000 points, causing significant energy release after several months of the channel. The challenge of the day’s meeting this Friday is to be able to qualify or nin this Gap of rupture (Breakaway).
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 7940.00 points.
The News Bulletin 247 Council
Hourly data graphics
Daily data graphics
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