The Paris Bourse is set to continue its upward trend on Wednesday morning, following Wall Street's advance the previous day in the wake of a number of statistics confirming the resilience of the US economy.

At around 8:15 a.m., the 'future' contract on the CAC 40 index - July delivery - climbed 40.5 points to 7,268 points, pointing to a third straight session in the green.

Last night's rebound in US stocks should provide support for European equities, which have been battered in recent days by doubts about growth and monetary policy.

The announcement of a jump in new home sales, followed by a sharp rise in the consumer confidence index, largely supported the trend on the New York Stock Exchange on Tuesday.

The Dow Jones finished with gains of around 0.6% at 3,327 points, while the Nasdaq Composite gained over 1.6% at 1,3556 points.

Optimism about the possibility of avoiding a recession is likely to bolster stock markets, as investors regain faith in the possibility of a soft landing for the economy.

'Without a recession in the US, a global recession is unlikely', say the teams at Evli, a Scandinavian asset management company.

A view shared by Carmignac strategists.

As long as the economy slows down without collapsing, and the pace of disinflation is maintained, keeping long-term interest rates in check, equity markets should remain on a crest line", says Kevin Thozet, one of the Paris-based investment fund's strategists.

But if global growth continues to show resilience in the short term, it also means that central banks will have to continue tightening policy in the months ahead.

The Tokyo Stock Exchange soared by more than 1.9% in the wake of Wall Street's recovery. China's stock markets, meanwhile, showed no clear trend: Hong Kong's Hang Seng index was at equilibrium.

On the currency markets, the euro is back on a downward trend, having benefited yesterday from Christine Lagarde's very firm comments at the Sintra forum (Portugal).

For the ECB President, inflation remains too high in Europe, and the institution will have to continue its fight against rising prices "whatever the cost".

The single currency is trading below $1.0950 this morning, after testing the $1.0980 threshold yesterday.

On the bond front, yesterday's strong US figures are pushing yields higher, with the 10-year US Treasuries rate back above 3.76%.

Crude oil prices edged up as we awaited the release of weekly US oil inventories in the afternoon.

Brent crude rose by 0.7% to $72.7 a barrel, while US light crude (WTI) advanced by 0.7% to $68.2.

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