(CercleFinance.com) – After suffering two consecutive weeks of decline, the Paris Stock Exchange should open without much direction on Monday morning, at the start of a day which promises to be calm due to the closure of the London Stock Exchange and Wall Street.
Around 8:15 a.m., the ‘futures’ contract on the CAC 40 index – June delivery – fell by 2.5 points to 8075.5 points, announcing a stable or even negative opening in line with the last sessions.
By dropping around 0.1% on Friday, at 8094 points, the Parisian market had dropped around 1% over the past week, thus aligning a second week of decline in a row despite promising news, including in particular the solid Nvidia results.
While the CAC still posted a gain of just over 7% since the start of the year, investors seemed inclined to take some profits in the face of the uncertainty that still surrounds the trajectory of the Fed’s rate cuts .
For these same reasons, the Dow Jones ended a five-week bullish series, which had allowed it to climb beyond 40,000 points for the first time in its history, by dropping more than 2% last week.
Speakers hope that the markets will manage to get back in the right direction this week thanks to the numerous indicators on the menu for the coming days.
In particular, the latest figures for inflation in the sense of ‘PCE’ in the United States will be published on Friday, as well as the first estimate of inflation for the month of May in the euro zone, also scheduled for Friday.
In both cases, analysts are optimistic about a continuation of the disinflation movement on both sides of the Atlantic which would open the way to future monetary easing.
The publication on Thursday of a new estimate of American GDP will also be closely followed in order to find out more about the ongoing slowdown in activity in the United States.
A first estimate published at the end of April indicated that GDP increased by 1.6% on an annual basis in the first quarter, compared with growth of 3.4% in the fourth quarter of last year.
In the meantime, trading volumes should remain relatively limited this Monday in Paris, the London Stock Exchange being closed for the ‘Spring Bank Holiday’ and the day also being off in the United States for ‘Memorial Day’.
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