Home » News » Stock Market Recap: Paris Closes Down 0.16% with Low Transaction Volumes – US Economy Soft Landing Scenario Supported

Stock Market Recap: Paris Closes Down 0.16% with Low Transaction Volumes – US Economy Soft Landing Scenario Supported

The Paris stock market consolidated without real intensity yesterday, benefiting from the good initial direction of Wall Street to reduce its losses and close down 0.16% at 7571 points.
Transaction volumes remained low in the run-up to the confectioners’ truce, with only 2 billion euros traded on the main components of the listing at the close.

Operators have not otherwise reacted to American statistics that are less good than expected, which support the scenario of a soft landing for the American economy. US GDP for the third quarter was revised downward to +4.9% (compared to +5.2% previously), weekly jobless claims rise to 205K (203K last week), the Phillyfed index falls to -10.5 (- 5.9 last month).

On the value side, Téléperformance gained 3.97%, Thalès 0.82%, Safran 0.77% and Axa 0.51% while Renault lost 1.28% with Unibail, Kering lost 1.18%, ArcelorMittal 0.94% and Carrefour 0.9%.

Across the Atlantic, the indices started to rise again after macroeconomic data calling for future rate cuts. The Dow Jones gained 0.87% to 37,404 points, the S&P500 gained 1.03% to 4,746 points and the Nasdaq100 1.23%.

For this last session before Christmas, the CAC40 should nevertheless start the session down 0.1%.
In the second part of the session, operators will learn several important statistics: the Core PCE index, orders for durable goods, building permits and housing starts at 2:30 p.m. then the Michigan confidence index and sales of new housing at 4 p.m.

Graphically, no change, we will have to wait for the release of 7528/7653 points to return to a strong trend. In the short term, we maintain a bearish bias below 7605 points.

European markets will be closed next Monday and Tuesday and Wall Street will reopen on December 26.

2023-12-22 07:00:03
#Slightly #increase #York

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