CAC 40 rebounds, with the help of Wall Street, 6000 points in sight of Investing.com


© Reuters.

Investing.com – The start of the last day of the trading week in a positive spirit, supported by the late recovery of the previous Wall Street session, but sentiment remains fragile as economic data signaled a global slowdown.

The CAC 40 and other European stock indices benefit from a positive turnaround from the United States as major averages on Wall Street benefited from late-buying interest, which they made solid gains on Thursday as Federal Reserve President Jerome Powell closed his two-day testimony of economy before Congress.

However, the mood for CAC 40 and stocks in general remains very fragile due to concerns that aggressive monetary tightening by several central banks, and in particular the Federal Reserve System, will push the world economy into a recession that Powell has acknowledged. .

Data released on Friday, for example, showed that UK retail sales fell 0.5% in May and 4.7% year-on-year as consumers struggled with soaring prices, reducing discretionary spending due to the need to buy basic items, such as are food and gasoline.

In the CAC 40 news, Sanofi SA (EPA 🙂 is likely to be in the spotlight after a French drugmaker said its candidate COVID-19 was 72% effective in adults against the Omicron strain, citing data collected in one study. .

Finally, from a graphic point of view, it should be noted that the increase in CAC 40 will start to have positive consequences only after returning above the key limit of 6000 points.

Based on an article by Peter Nurse

Elliot Frost

"Pop culture maven. Analyst. Writer. Wannabe food evangelist. Organizer. Friendly internet lover. Incurable troublemaker. Entrepreneur."

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