CAC40: back to 7,200, with double S&P500/D-Jones record

(CercleFinance.com) - The Paris Bourse is trying to finish positive (+0.
3% towards 7,200, in a famously low volume of E1.2 billion at 1/2h to close) on the eve of the weekend, but the week will end with a further decline for the CAC40 (-0.8%), which continues to widen its handicap in relation to US indices which are "in the green" for this half-session and which could set new records by 19H (shortened session).
The Euro-Stoxx50 is up 0.5% at 4,780 and will end the week 'flat', with no gains or losses.
The S&P500 (+0.5%) has already reached a new high of 6,028pts, and the Dow Jones (+0.4% at 44,920) is poised to beat its closing record of 44,860 set on 26/11.... will the 45,000 mark be reached this evening (possible new all-time record)?

Wall Street remains stainlessly confident in the success of Black Friday, the day after Thanksgiving: expectations of increased consumer spending are supporting the retail giants.

The Nasdaq is up +0.7% at 19.200Pts, coming within 0.8% of its all-time high, buoyed by the semiconductor sector and Nvidia (Soxx and Nvidia posted +2.5% respectively).
The gloom in Europe is as glaring as ever, due to the political, economic and geopolitical uncertainties currently plaguing the Old Continent.
The region is clearly penalized by weak domestic demand, and the fear of new customs duties in the United States is undermining the confidence of business leaders, who still can't count on the Chinese recovery," points out Thomas Giudici, manager at Salamandre (Auris Gestion).
The ECB therefore has no choice but to step up the pace of rate cuts, despite persistently strong wage growth", says the professional.
Over the week as a whole, the Euro STOXX 50 (+0.1% on Friday) is virtually unchanged.

Investors were reassured somewhat at the end of the morning by eurozone inflation figures, which came in on target.
The 'gross' rate came out at 2.3% in November, compared with +2.00% in October, but the pleasant surprise came from the 'core' rate, which stabilized at 2.7%, compared with 2.8% anticipated.
The ECB's median inflation forecast for the next 12 months rose to 2.5%, compared with 2.4% previously, while the three-year forecast remained stable at 2.1%.
Bunds (2.109%) and OATs (2.912%) erased -3pts, Italian BTPs -5.5pts to 3.2920%, and yields eased by an average of -15pts over the week.
The OAT/Bund spread narrowed from 88 to 82pts in 48 hours, showing a certain composure (no anticipated downgrades) ahead of Standard & Poors' verdict on our debt this evening.

In addition, preliminary figures published yesterday in Germany and Spain highlighted a re-acceleration in price dynamics, mainly in the services sector, but economists judge that these statistics are not such as to rule out the scenario of a possible 50bp rate cut by the ECB next month.

In France, according to the provisional one-year estimate made at the end of the month, consumer prices would rise by 1.3% in November 2024, according to Insee, after +1.2% in October.
Finally, there's nothing to report on the FOREX, with the Euro/$ parity frozen at 1.05500.

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