(CercleFinance.com) – The week ended in near euphoria with a CAC40 which soared by +1.8% to 7,265 Pts (in almost non-existent volumes of less than 1.5 billion euros 40 minutes from the close), which limits the weekly loss to around -0.9% (against -3.5% on Wednesday evening).
Wall Street ended the week at its zenith with gains of +1.1% for the S&P500 (4,270) and +1.4% for the Dow Jones (33,535).
The positive trend of the morning – following the adoption Thursday evening of the extension of the debt ceiling until 2025 after the favorable vote of the Senate – is reinforced by the publication of monthly employment figures in the United States .
The US economy generated no less than +339,000 non-farm payrolls in May, according to the Department of Labor (DoL), a number +100,000 higher than market expectations (like Jefferies, which expected 230,000) .
“Job gains were seen in professional and business services, administration, healthcare, construction, transportation and storage, and social assistance,” the DoL said.
The resilience of the US job market could upset the Fed, but it can focus on the sharp rebound in the unemployment rate, which rose by 0.3 points to 3.7% of the active population.
The labor force participation rate remained stable at 62.6%, and average hourly earnings increased at an annual rate of 4.3%.
In addition, job creations for the two previous months were revised sharply upwards, from 165,000 to 217,000 for March and from 253,000 to 294,000 for April, ie a total revision balance of +93,000 for these two months.
The dissipation of the specter of a payment default by the United States is further encouraging investors to return to risky assets in this last session of the week… and this slightly penalizes the bond markets, which are deteriorating slightly with OATs taking +4Pt at 2.855%, Bunds at 2.31% (+6Pts), US T-Bonds which show +6.2Pts at 3.663%.
The Dollar strengthened slightly to 1.0725E (+0.25%) and the ‘$-Index’ also posted +0.3% to 103.85E.
In the news of French companies, TotalEnergies announces that at the end of the subscription period, 52,602 subscribers in 94 countries, representing 45.8% of eligible employees and former employees, subscribed to the capital increase which was reserved, for an amount of 353.9 million euros.
Alpha MOS announced last night that it has completed, on schedule, the second clinical study of its non-invasive breath glucose monitoring device.
Carbios announced on Friday the signing of a memorandum of intent with the Thai Indorama Ventures to form a joint venture dedicated to the construction of their joint biorecycling plant.
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