Slightly down ahead of Eurozone PPI and NFP

Following Wall Street’s sharp rise on Wednesday, following Jerome Powell’s comments about a possible moderation in rate hikes in December, the Paris Stock Exchange finished timidly rising by 0.23% to 6,753 points, supported by the technology compartment. However, incentives remained limited in Europe, as the Fed chair reiterated that the job was far from over and rates would likely be raised to a higher-than-expected level in September.

The statistics for the day were mixed. Final manufacturing PMI came in at 47.1 in the Eurozone (47.3 previously) and 46.5 in the UK (vs 46.2). The unemployment rate also fell to 6.5% in the euro zone (6.6% previously).
Across the Atlantic, the Core PCE Index rose just 0.2%, weekly jobless claims fell to 225K (241K last week), household spending and income rose 0.7% and 0. .8% respectively, but the ISM manufacturing fell to 49 (50.2% previously). ) and construction spending fell by 0.3%.
As for the US indices, they caught their breath and finished in scattered order. The Dow Jones lost 0.56% to 34,395 points, the S&P500 lost 0.09% to 4,076 points and the Nasdaq100 gained 0.1%.

This morning, pending the Eurozone PPI index and the US monthly employment report, the CAC40 should yield 0.3% in the first trade.
Technically, the settings remain unchanged. We will closely follow the output of 6730/6792 points to act.

Dennis Alvarado

"Total social media fan. Travel maven. Evil coffee nerd. Extreme zombie specialist. Wannabe baconaholic. Organizer."

Leave a Reply

Your email address will not be published. Required fields are marked *