Thursday, September 28, 2023
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CAC 40: the stock market awaits inflation in the euro area and employment in the US

After rising 4.4% on the week, on course for its best weekly performance since mid-March, the CAC 40 on the Paris Stock Exchange remains supported so far. The day before, the CAC 40 had ended down 0.22% at 6,761.50 points, the highest level since the end of March. For equity investors, “hopes of a peak in inflation as well as lower oil and gas prices suggest that central banks may not need to tighten as aggressively as feared”, sums up Michael Hewson, analyst at CMC Market.


CAC 40: The Paris Stock Exchange surpasses London’s and becomes No. 1 in Europe

Eurozone data was published late in the morning

After the good inflation figures in Germany and then in France, tomorrow morning the market will pay attention to developments for the euro area and, according to the consensus, expect to see the price increase over a year fall back to 9.7% in December by the data provider Factset against 10.1% in November . Other indicators are expected at 11 on consumer confidence or retail sales in the euro area.

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US jobs data could affect Fed monetary policy

The other big news of the day will be the official US employment report in the early afternoon. The data will again be viewed in the light of the lessons that the US central bank can learn, especially about “the monetary path that it will adopt” in 2023, recalls John Plassard, investment specialist at Mirabaud. An overly tight labor market with low unemployment and continued rapidly rising wages will therefore not be seen as good news, as it will encourage the Federal Reserve to maintain an aggressive stance with sharp rate hikes in the next few months and no cut in 2023.

Sodexo and Stellantis: stocks to watch today

Sodexo: The collective catering and services group on Friday reported a “strong start” to its activity in the first quarter of its staggered financial year 2022/2023 and maintained its forecasts.

Stellantis: The automaker on Thursday unveiled a prototype of future electric pickups from its Ram brand during a presentation at the major electronics show in Las Vegas, where a new Peugeot archetype was also unveiled.


Stellantis unveils the future of its RAM electric pickups



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