The CAC 40 had a volatile week, for the first of the 2022 stock market vintage. A week that perhaps bodes well for what awaits us for the year as a whole, which should be more rugged than 2021. After a fanfare start from Monday to Wednesday, the Fed ended up putting a damper on the mood, suggesting several rounds of monetary screws and a reduction in its balance sheet, in order to counter inflation deemed worrying. “There are still many catalysts for inflation (oil effect, supply and production constraints, acceleration in rents, rise in labor costs, etc.) but central banks and States will only withdraw very gradually to avoid destabilizing the economy. ‘economy ”, judge Alain Guélennoc, Managing Director of Federal Finance Gestion.
The evolution of the monetary policies of central banks and that of inflation, which is no longer qualified as transitory, will be decisive for the stock market. “In the United States, if wages increase to integrate the rise in inflation (thus triggering the second-round effects), this will consolidate the Fed in its policy of monetary tightening”, warns the expert, for whom this The risk nevertheless appears to be much more limited in the euro zone, “given the environment of the labor market”. If the Omicron threat subsides, and apart from new geopolitical tensions, then “a certain form of normalization should be put in place, which will involve catching up to the rise in rates and greater selectivity on the equity markets”, warns -he.
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Stock market: volatility has been taken advantage of for our subscribers
This week, Momentum was able to take advantage of market volatility. On the equity front, the upward acceleration of the CAC 40 during the first part of the week was correctly anticipated, as well as the profit taking from Thursday … Some stocks analyzed in recent months, such as Bénéteau or Carrefour (driven by rumors of takeover by Auchan), have sparked recently. Conversely, Pernod Ricard disappointed, but the positions were able to be unwound quickly (fairly tight protective stop).
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Many stocks (Rothschild, Microsoft, Française des Jeux, etc.) have been peeled, with bullish or bearish expectations. And the main indices (CAC 40, Nasdaq, S&P 500, Dow Jones…) were analyzed. On the cryptocurrency side, our caution on the compartment and Bitcoin has paid off.
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