(CercleFinance.com) – The Paris Stock Exchange should start slightly higher on Thursday morning, before turning towards the United States where numerous economic indicators are expected in the afternoon.
Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – delivery at the end of the month – advanced by 22 points to 8007.5 points, suggesting a return to the 8000 point zone from the opening.
Macroeconomic data are particularly watched by investors at the moment following signals from the Fed raising fears of maintaining high rates for a longer period than previously hoped.
In this context of concern, they hope that the statistics expected during the day will not reflect too much dynamism in activity, which could encourage the Federal Reserve to once again postpone its rate cut plans.
Among the many indicators of the day are the figures for registrations for unemployment benefits, which will provide information on the state of the labor market, closely monitored by the American central bank.
Also in their sights, the Philadelphia Fed index, then the Conference Board’s leading indicators, which will make it possible to gauge the country’s growth prospects.
Stakeholders are counting on these indicators to allow stock market indices to get back in the right direction after their sharp decline in recent days.
In Paris, the CAC 40 index remains in decline for five sessions out of seven, a downward movement which has led it to return below its important support of 8000 points.
Wall Street also continued its consolidation on Wednesday, with investors once again massively selling technology stocks, led by semiconductors.
‘We have the idea that the craze around artificial intelligence is now over and recommend increasing exposure to cyclical and value stocks,’ the Danske Bank teams wrote this morning.
On the bond market, things remain calm and the yield on ten-year US Treasuries, which reached five-month highs on Tuesday, is easing towards 4.59%.
This appeasement also relieves European Treasury bonds since the yield on the German Bund is also down slightly to around 2.46%.
Oil prices are stabilizing, stuck between data which showed yesterday an increase in crude stocks in the United States and a geopolitical climate that is still very tense.
In London, the barrel of Brent recovered timidly by 0.2% to 87.5 dollars while American light crude (WTI) advanced by a little more than 0.1% to 82.8 dollars.
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