CAC 40: calm as New York closes
At around 8:15 a.m., the CAC 40 future contract - June delivery - was down 2.5 points at 8075.5 points, heralding a stable or even negative opening in line with recent sessions.
By dropping around 0.1% on Friday, to 8094 points, the Paris market had lost around 1% over the past week, making it the second week in a row of declines despite buoyant news, including Nvidia's solid results.
While the CAC still posted a gain of just over 7% since the start of the year, investors seemed inclined to take some profits in view of the uncertainty still surrounding the trajectory of the Fed's rate cuts.
For the same reasons, the Dow Jones ended a five-week bull run, which had taken it above 40,000 points for the first time in its history, by giving up over 2% last week.
Market participants are hoping that the markets will manage to get back on track this week, thanks to the numerous indicators on the menu over the next few days.
The latest US PCE inflation figures will be published on Friday, as will the first estimate of May inflation in the eurozone, also due on Friday.
In both cases, analysts are optimistic that the disinflation trend will continue on both sides of the Atlantic, paving the way for further monetary easing.
Thursday's publication of a new estimate of US GDP will also be closely watched to learn more about the ongoing slowdown in US activity.
An initial estimate published at the end of April had indicated that GDP had grown at an annual rate of 1.6% in the first quarter, compared with growth of 3.4% in the fourth quarter of last year.
In the meantime, trading volumes are likely to remain relatively limited this Monday in Paris, as the London Stock Exchange is closed for the Spring Bank Holiday and the day is also off in the USA for Memorial Day.
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