The Paris stock market ended up 0.66% at 7,303 points yesterday, a few hours before the vote on a motion of censure in the National Assembly. Later in the day, the ax finally fell and Emanuel Macron is expected to speak this evening, following the fall of the government.
The day's statistics were generally below expectations, reinforcing expectations of a Fed rate cut in December.
The ADP reported only 146K private sector job creation and last month's figure was revised down to 184K (originally 233K). The Final PMI services index and the ISM services stood at 56.1 and 52.1 respectively (compared to 57 and 56 previously) while industrial orders increased by 0.2% (-0.2% last month).
Jerome Powell also confirmed the good health of the American economy, authorizing the institution to be a little more cautious about future monetary easing.
The American indices have in unison set new records, in the wake of technology stocks. The Nasdaq100 gained 1.24%, the S&P500 0.61% to 6086 points and the Dow Jones 0.69% to 45014 points.
This morning, the CAC40 should nevertheless undergo some clearings, with Futures contracts suggesting an initial drop of 0.5%.
Graphically, we will always wait for the exit of the 7091/7365 point range.
