After a markedly positive start to the session in Europe, in the wake of good corporate publications, the rise lost some steam with Wall Street and US statistics.
The weekly jobless claims came out at 192K (against 195K last week) and the US GDP finally progressed by only 2.7% (against 2.9% in the first estimate). Note also the upward revision of Core PCE inflation to +4.3%, against 3.9% previously.
On the stock side, Stellantis gained 3.59%, Unibail 3.33%, Axa 3.24%, Bouygues 2.01% and Renault 1.7% while Essilor lost 4.24%. Danone lost 1.39% and Eurofins 1.37%.
At the end of a volatile session and after a sharp decline, the US indices finally got through to technology and energy-related stocks. The Dow Jones closed up 0.33% to 33153 points, the S&P500 gained 0.53% to 4012 points and the Nasdaq100 0.94%.
The CAC40 should therefore open up 0.5% today.
In hourly data, the indecision remains strong but the index nevertheless remains within a stone’s throw of its records. Volatility could persist and only the sinking of 7231 points would militate for the start of a larger consolidation.
