CAC 40: rebound in sight in the wake of New York

published the 24/11/2020

(CercleFinance.com) – After its break the day before, the Paris Bourse should start again before the opening Tuesday, encouraged by the recovery of the American stock markets in the evening of yesterday. Around 8:15, the contract ‘future ‘on the CAC 40 index rose 52.5 points to 5535 points, announcing a start to the session in positive territory.

In addition to the encouraging news concerning the AstraZeneca vaccine project – which claims 90% effectiveness in phase III on certain types of patients – Wall Street benefited yesterday from the prospect of the appointment of Janet Yellen as future secretary to the The Dow Jones took advantage of this to recover 1.1% and wipe out all of its losses of the last week, while the Nasdaq managed to grab 0.2% thanks to the only increase of the Tesla stock, which still garnered a 6% increase and set a new all-time high of $ 526.

Joe Biden – whose victory in key Michigan was confirmed yesterday – kept his word by building his squad before Thanksgiving, with former Fed Chairman Janet Yellen appearing to be holding the rope – as the markets hoped. – to land the strategic position of future secretary at the Treasury. Yellen – who was adviser to Barack Obama before taking over the Fed in 2014 and until January 2018 – had to leave office when Trump – deeming her too marked ‘ Democrat ‘- Jerome Powell had preferred to him. American investors have welcomed the arrival of this’ money dove’, which approves and supports all fiscal stimulus programs.

‘It should get down to better aligning fiscal and monetary policies’, explain Deutsche Bank analysts this morning. In the economic chapter, market participants will closely follow, later in the morning, the publication of the Ifo index. in the business climate in Germany, expected to decline in November due to the recent tightening of health protocols. ‘The index will show to what extent economic activity has been impacted by these measures in the short term’, underlines In the afternoon, the Conference Board’s consumer confidence index, an indicator that will integrate the results of the elections, the resurgence of the epidemic. and the promising announcement of a vaccine.

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