(BFM Bourse) – The Parisian index advances at mid-session, recovering from its 0.89% drop the day before while awaiting employment figures in the United States.
The CAC 40 is trying to move forward this Friday. The Parisian index advanced 0.6% to 7,634.94 points after suffering a decline of 0.9% the day before, weighed down by the disappointing results of BNP Paribas and Dassault Systèmes. Throughout the week, the CAC 40 is stable for the time being.
The main market event will be the publication of the US employment report for January at 2:30 p.m. Economists surveyed by the Wall Street Journal expect 185,000 job creations, compared to 216,000 the previous month, and an unemployment rate of 3.8%.
This data is still monitored to try to anticipate the next move by the US Federal Reserve (Fed). On Wednesday evening, its president, Jerome Powell, tried to push back previous market expectations, which then anticipated a rate cut as early as March.
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Meta in great shape
“The market has almost canceled the probability of a rate cut in March. On the other hand, compared to expectations before the Fed meeting, the market has added an additional cut in 2024. Thus, it has more than 80% chances of 6 rate cuts taking place depending on the market. We are retaining our hypothesis of 4 rate cuts from May 2024”, explains Sebastian Paris Horvitz of LBPAM.
The session should be driven on Wall Street by the excellent results of Meta which jumped 16.8% in pre-opening, while Amazon rose 6.3% after publishing a sharp increase in operating margin in the fourth quarter.
In Paris, Vallourec rose 5% after announcing that its annual results would be higher than its forecasts.
Cyclical stocks are in good shape on the CAC 40. Alstom takes 3%, the car manufacturers Renault and Stellantis advance by 3% and 2.5% respectively.
On other markets, the euro gained 0.1% against the dollar to 1.0885 dollars. Oil is rising a bit. The April North Sea Brent contract advances 0.6% to $79.16 per barrel, while the March contract for WTI listed in New York gains 0.6% to $74.24 per barrel. .
Julien Marion – ©2024 BFM Bourse