The Paris Bourse hardly felt the impact of the -1.5% drop in the S&P500 and Nasdaq on Tuesday evening (the biggest correction since September 26), thanks to a +1% pre-opening rebound in US futures.

As a result, the CAC40 has been content with a marginal consolidation of -0.3% to -0.4% since 9H this morning (range 4,540/7,570), penalized by Renault (-1.9%), Kering and Unibail (-1.3%).570), penalized by Renault (-1.9%), Kering and Unibail (-1.3%).

The easing of yields on OATs and Bunds (-1Pt) and Italian BTPs (-4Pts to 3.5700%) maintains optimism about a radical easing of monetary policies in 2024.

With Wall Street's positive reopening having been 'predicted' from early trading, the 0.8% gains on the S&P and Nasdaq did not cause prices to lag.

Trading could have been livened up by the day's US figures, but nothing happened!

No reaction to the downward revision of US third-quarter GDP growth from +5.2% to 4.9% (final estimate).

No reaction to the announcement of a further deterioration in the Philly Fed index, which stood at -10.5 this month versus -5.9 in November, whereas economists were expecting it to be around -3.

The sub-index measuring the evolution of new orders received by companies moved back into the red zone, at -25.6 versus +1.3 last month, as did the employment component, down from +0.8 to -1.7 month-on-month.

On the other hand, the indicator covering prices paid rose to +25.1, compared with +14.8 in November.

The index of leading indicators fell again in November, announced the Conference Board on Thursday, pointing to a recession in early 2024.

The leading index fell by 0.5% to 103, after having already fallen by 1% in October, in line with analysts' expectations, following a decline of 0.8% initially announced for November.

Weekly jobless claims recovered at the margin (+2,000 to 205,000) at the end of the week to December 11, a figure up by 2,000 on the previous week's revised figure (203,000, against 202.000 initially announced).

The four-week moving average - more representative of the underlying trend - came out at 212,000 last week, down 1,500 on the previous week's revised average

All this data today would support the scenario of a "soft landing", or even that of a "fairy tale" ("goldilocks") combining moderate growth and low inflation (no recession, no significant drop in corporate profits).

But investors may be hesitant on the eve of household income and spending figures, which will include the PCE price index, closely watched by the Federal Reserve.

In the meantime, the US bond market continues to ease, with the yield on 10-year Treasuries dropping -3pts to 3.842%, the lowest since mid-July, weighing on the dollar (-0.5%) against a Euro that is rising towards $1.100.

Oil prices are consolidating horizontally at $79.2: the barrel is gearing up for a second week of price rises due to the increasing number of attacks by Yemeni Houthi rebels, close to Iran, against ships in the Red Sea, which are disrupting maritime trade.

In news from French companies, Airbus announces that the Spanish Ministry of Defense has ordered 16 Airbus C295s in Maritime Patrol Aircraft (MPA) and Maritime Surveillance Aircraft (MSA) configurations, a contract worth almost 1.7 billion euros.

Casino announced on Thursday the convening of a forthcoming meeting to enable its shareholders and creditors to vote on the proposed accelerated safeguard plans.

Neoen announced that it had won 104.4 MWp of solar projects in the latest government call for tenders in France, managed by the Commission de régulation de l'énergie (CRE), thus becoming the first winner of CRE calls for tenders to date.

Finally, Groupe Crit announces the signature of a memorandum of understanding for the acquisition of a 57.7% majority stake in Openjobmetis, Italy's sixth largest temporary employment agency, at a price of 16.50 euros per share.

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