(CercleFinance.com) – The Paris Stock Exchange is expected to rise slightly on Monday morning, at the start of a week that promises to be loaded with economic indicators and corporate results.
Around 8:15 a.m., the ‘future’ contract on the CAC 40 index rose 20 points to 7029.5 points, announcing a resumption of the favorable trajectory that has carried the market since the start of the year.
Today’s session should remain fairly quiet due to a lighter schedule in terms of both company releases and business statistics.
However, the market is preparing for a particularly dense week with the accounts of many heavyweights on the stock market, intense news to which will be added the American growth in the fourth quarter.
The major global stock markets had ended the past week with weekly losses, the first in three weeks, on the impression that the scenario of a soft landing for the economy could have lead in the wing.
The US economic indicators published last week show less vigorous consumption, while the Fed is still just as proactive in its fight against inflation and its monetary tightening.
As a result, equity markets erased some of the gains that had carried the indices since January 1. In Paris, the CAC fell 0.4% last week, which still shows an increase of 8% this year.
In the United States, 93 S&P 500 companies are due to publish their results this week, including 12 components of the 30 stocks in the Dow Jones index.
Among the big names expected in the coming days, Microsoft, Tesla, Boeing and Intel will unveil their quarterly performances and investors will need solid figures to reassure themselves.
The ball of the publications of results will also continue in Europe, with in particular the announcements of ASML, LVMH, STMicroelectronics, Nokia or SAP.
On the macroeconomic front, the week will be dominated by the publication – Thursday – of the first estimate of the gross domestic product (GDP) of the United States in the fourth quarter.
US growth should have reached 2.6% at an annualized rate over the last three months of the year, after +3.2% in the third quarter, according to economists’ forecasts.
Investors will also pay attention to the publication on Tuesday of the ‘flash’ PMI indices in the euro zone, which should fuel the ongoing debate on the level of inflation and the risk of a recession.
The approach of the Federal Reserve meeting on January 31 and February 1, which should lead to a further rate hike, could nevertheless encourage investors to be cautious.
The moderation in inflation and labor market data reinforces the hypothesis of a rate hike limited to 25 basis points next week.
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