(CercleFinance.com) – The Paris Stock Exchange should drift into the red on Monday morning at the start of a session that promises to be particularly calm, with no indicator appearing on the day’s agenda.
Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – end of month delivery – fell 19 points to 7326.5 points, suggesting a cautious start to the week.
Trading volumes should remain limited due to the absence of many investors on the eve of the Assumption Day, which will see the Milan and Vienna Stock Exchanges remain closed tomorrow.
Over the past week, the Parisian index was content to grab a limited score of 0.4%, which still allows it to maintain a gain of nearly 13.5% since the start of the year.
In the United States, the Dow Jones managed to advance by 0.7% last week, but the S&P 500 and the Nasdaq suffered a second consecutive week of decline, with losses of 0.3% and 1.9 respectively. %.
“Financial markets are hesitant, uncertain of the impact of inflation figures in the United States on the next meeting of the Fed,” explains Jeanne Asseraf-Bitton, head of research and strategy at BFT IM.
This period of summer trough which opens today is a traditionally calm period on the markets, which tend to remain on the trends at work during the previous weeks.
The characteristics this year are: a soft landing scenario that strengthens in the United States, but activity that clearly loses momentum in Europe, which supports the dollar and weakens the euro.
‘This momentum appears to be in part the result of strong comments from Fed members following the latest inflation data, which has driven US government bond yields higher,’ analysts at Capital Economics said. .
Despite the summer break, investors are expecting plenty of economic data to come out in the US this week, including retail sales and industrial production figures.
They will also follow, on Wednesday, the minutes of the last meeting of the Federal Reserve, which could give them valuable indications regarding its intentions in terms of monetary policy.
Among the companies that have not yet published their quarterly results, Cisco will announce its accounts on Wednesday, which will make it possible to evaluate the investment projects of the large companies.
Several major US retailers are also due to release their results this week, including Home Depot, Walmart and Target, which will provide an idea of the current state of mind of US consumers.
On the oil front, barrel prices remain on a downward trend after their recovery in recent weeks, with Brent from the North Sea returning to 85.7 dollars and Texas crude approaching 82 dollars.
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