rebound in sight in the wake of New York

After its break the day before, the Paris Bourse should start again before Tuesday opening, encouraged by the recovery of the American stock markets in the evening of yesterday.

At around 8:15 am, the ‘future’ contract on the CAC 40 index rose by 52.5 points to 5535 points, announcing a start to the session in positive territory.

In addition to the encouraging news concerning the AstraZeneca vaccine project – which claims 90% effectiveness in phase III on certain types of patients – Wall Street benefited yesterday from the prospect of the appointment of Janet Yellen as future secretary to the Treasure.

The Dow Jones took the opportunity to recover 1.1% and wipe out all of its losses of last week, while the Nasdaq managed to grab 0.2% thanks to the only increase of the Tesla title, which was still up 6% and registered a new all-time record 526 dollars.

Joe Biden – whose victory in key Michigan was confirmed yesterday – kept his word by building his squad before Thanksgiving, with former Fed Chairman Janet Yellen appearing to be holding the rope – as the markets hoped. – to land the strategic position of future Secretary to the Treasury.

Yellen – who served as Barack Obama’s advisor before taking over as the Fed in 2014 and until January 2018 – had to leave office when Trump – deeming her too branded ‘democratic’ – preferred Jerome Powell to him.

American investors have welcomed the arrival of this ‘mountain dove’, which approves and supports all fiscal stimulus programs.

“It should get down to better align fiscal and monetary policies,” Deutsche Bank analysts explain this morning.

In the economic chapter, market participants will closely follow, in the course of the morning, the publication of the Ifo business climate index in Germany, expected to decline in November due to the recent tightening of health protocols.

“The index will make it possible to know to what extent economic activity has been impacted by these measures in the short term,” says Danske Bank.

In the United States, the Conference Board’s consumer confidence index will appear in the afternoon, an indicator that will include all the results of the elections, the resurgence of the epidemic and the promising announcement of a vaccine.

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