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The Cac 40 returns above 6,300 points but the jolts were numerous in session

The Cac 40 returns above 6,300 points but the jolts were numerous in session
Written by madishthestylebar

Lack of inspiration. In the current context of rising interest rates and unfavorable market sentiment, resulting from the war in Ukraine, inflation, recessionary fears and the health crisis in China, new investment themes are particularly difficult to find. The absence of an economic indicator and a resounding announcement from companies added to the market’s hesitation on Monday. At the close, the Bedroom 40 advance of 1.17%, to 6,358.74 points, in a transaction volume of 3.5 billion euros. across the Atlantic, the Dow Jonesthe Nasdaq Composite and the S&P500 regain a little height (between 1% and 2% around 5:30 p.m.) thanks to Joe Biden’s announcements.

The American president plans to reduce customs duties on certain products imported from China while inflation, which stood at 8.3% over one year in April, hits consumers hard in the wallet and slows down corporate margins. ” I thinkhe said during a press conference with Japanese Prime Minister Fumio Kishida. We have not imposed any of these tariffs. They were by the last administration and they are being studied. Joe Biden has also multiplied his calls to the Organization of Petroleum Exporting Countries for an increase in black gold production quotas.

The rebound in US markets comes as the S&P 500, which serves as a benchmark for managers in the country, plunged in “ bear market during Friday’s session… but not at the close. The index is about 18% below its January high, while the Dow is down 13.5%. The Nasdaq is already in “ bear market “, showing a drop of 29% compared to its last peak, which dates back to November.

Fed minutes released Wednesday night

Stocks continue to move with supply and demand, but the mood that drove markets higher for a decade is gone observes George Ball, at Sanders Morris Harris. In the coming days, important meetings await the market, including the results of the heavyweights of American consumption Best Buy, Ralph Lauren, Abercrombie & Fitch, Macy’s or Gap as well as the minutes of the last meeting of May 4 of the US Federal Reserve (Fed). The minutes will be released Wednesday evening. In early May, the monetary institution announced a tightening of 50 basis points on interest rates, between 0.75% and 1%, in order to counter inflation. A decision taken unanimously by the governors. This tightening should be followed by other movements of the same magnitude. Fed Chairman Jerome Powell has indeed indicated that he is in favor of a further 50 basis point hike in interest rates. Fed-funds at the next two meetings, in June and July.

On the values ​​front, the Food and Drug Administration (FDA), the American health authority, has authorized the use of Dupixent from Sanofi (+1.37%) for the treatment of patients aged 12 and over suffering from eosinophilic esophagitis. Conversely, vinci dropped 1.21%: according to France Info and AFP, citing the Nanterre prosecutor’s office, Vinci Construction France was indicted in February for ” private corruption for facts dating back to between 2008 and 2016. Finally, Morgan Stanley lowered its recommendation on Publicis (-0.29%), going from “online weighting” to “underweight” with a price target reduced from 54 to 48 euros.


PC

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