With the support of American statistics, Cac 40 gains 6400 points, market news

Bright sun over the Brongniart Palace. in Bedroom 40 Tuesday’s session ended with an increase of 1.3% to 6430.19 points with a volume of transactions of 3.4 billion euros. Good performance Wall Street, where S&P500, adding 1.4%, will try to extricate itself from a series of six consecutive weeks of decline that supported the Paris market. in Dow Jonesbenchmark index of managers and NASDAQ Composite, with tech coloring, are also benefiting from bargains after their poor performance in recent weeks. They earn 0.78% and 1.93% respectively.

Never bet against the American consumer.”

Investors also welcome the US retail sales data. When faced with a surge in inflation, households tend to make decisions that favor basic spending (food, housing, transportation) over discretionary spending such as recreation or clothing. Confident in the strength of the labor market – the unemployment rate is just 3.6% and wages remain high – Americans continued to consume at a good pace in April. Retail sales rose 0.9% m/m after rising 1.4% in March (revised from 0.5%), according to the Commerce Department. This data is generally in line with the expectations of economists, who predicted a 1% increase in retail sales. Nine of the thirteen product categories tested saw increases in sales last month, such as car sales, food or restaurant spending. This resilient demand allowed the country’s industrial production to rise more than expected last month, up 0.8% mom versus the 0.4% expected by the consensus.

Never bet against the American consumer – that has always been a good adage that I have always remembered throughout my 20 years of experience in the markets.Paul Ashworth, chief US economist at Capital Economics, commented.. Despite the fact that rising prices have affected their purchasing power, it seems that the American consumer alone keeps the global economy afloat.. However, keep in mind that retail sales figures are not adjusted for inflation. Actual spending figures will be released next week. In any case, this figure, added to the 8.3% year-over-year rise in the CPI in April, should reassure the US Federal Reserve (Fed) in its strategy of raising interest rates. The head of the institution, Jerome Powell, recalled late last week that interest rates were being raised by 50 basis points. federal funds the next two meetings will be enough to stop inflation. According to him, there is no need to come up with a 75 basis points increase.

Engie stock flew over

A sign that the American consumer isn’t averse to sticking his hand in his pocket, especially when it comes to renovating his interior, is DIY Home Depot’s turnover of $38.91 billion on March 31, well above the $36.72 billion expected by Bloomberg. consensus, i.e. growth of 3.8%, and 2.2% with the same number of stores. Net income was $4.23 billion, or $4.9 per share, from $3.86 a year earlier.

On the side of values Angie the latest Cac 40 company to report as of March 31, raised forecast for the whole year : EBITDA forecast is now between 11.7 and 12.7 billion euros, compared to the original range of 10.7 to 11.1 billion euros. As for the periodic net profit, it should be from 3.8 to 4.4 billion, wider limits than the previous ones (3.1-3.3 billion). These estimates allowed it to rise by 5.3% to take the lead in the Cac 40 rating. In terms of Russian gas supplies, the group remains wary of mechanisms being developed to pay its supplier, in line with the framework set by Brussels. and Russia demands rubles for its gas. Societe Generale (+3.62%) and Schneider Electric (+3.37%) complete the top three.

Vice versa, Pernod Ricard fell 1.18% in response to Morgan Stanley’s target price cut. The broker is targeting 220 euros against 230 euros earlier. Finally, Eliorregistered on SRD soared 7.52% on the eve of the presentation of results for the first half of 2021-2022.