© Reuters.
Investing.com – After already gaining 0.80% yesterday, the price rose in the same proportion on Thursday morning, approaching the major psychological threshold of 7000 points, currently at 6977, before the release of key consumer price data in the States. States as well as new quarterly results.
The CAC 40 and European equities in general started the new year on a positive note, with the UK stock index, the , in the lead, trading near an all-time high.
There is little major potentially influential economic data on the CAC 40 expected in Europe on Thursday, and all eyes will be on the US consumer price index for December later in the session.
Investors expect the Federal Reserve to slow the pace of its interest rate hikes at its next meeting in early February, but policymakers were keen to make it clear that such a move is data-dependent. With this in mind, the consumer price index will be a key indicator of their progress in controlling inflation.
The overall figure is expected to rise 6.5% from a year ago, down from the previous month’s rate of 7.1%. For the month, inflation should remain stable. Core CPI, which excludes food and fuel prices, is expected to come in at 5.7%, down from 6% in the previous month, and 0.3% for the month, down from 0.2% in November.
Weaker-than-expected data would reduce the need for further Fed rate hikes, which will be positive for the CAC 40 and global stock markets in general.
From a graphical point of view, it should however be noted that the key threshold of 7000 points which is approaching, and could offer resistance to the CAC 40.