The week ended in near euphoria, with the CAC40 soaring +1.8% to 7,265pts (in almost non-existent volumes of less than 1.5 billion euros at 40 minutes to close), limiting the weekly loss to around -0.9% (versus -3.5% on Wednesday evening).
Wall Street ended the week at its zenith, with gains of +1.1% for the S&P500 (4,270) and +1.4% for the Dow Jones (33,535).270) and +1.4% for the Dow Jones (33,535).

The morning's positive trend - following Thursday evening's passage of the extension of the debt ceiling until 2025 after a favorable vote in the Senate - is reinforced by the publication of monthly employment figures in the USA.
The US economy generated no less than +339,000 non-farm jobs in May.000 nonfarm jobs in May, according to the Department of Labor (DoL), a number +100,000 higher than market expectations (like Jefferies, which was expecting 230,000).

'Job gains were seen in professional and business services, administration, health care, construction, transportation and warehousing, as well as social assistance', states the DoL.

The resilience of the U.S. labor market may have troubled the Fed, but it can focus on the sharp rebound in the unemployment rate, which rose by 0.3 points to 3.7% of the labor force.
The labor force participation rate remained stable at 62.6%, and average hourly earnings grew at an annual rate of 4.3%.

In addition, job creations for the previous two months were revised sharply upwards, from 165,000 to 217,000 for March and from 253,000 to 294,000 for April, i.e. a total revision balance of +93,000 for these two months.

The dissipation of the specter of a US default on payment is also prompting investors to return to risky assets in this last session of the week.... and this is slightly penalizing the bond markets, which are deteriorating slightly, with OATs gaining +4pts to 2.855%, Bunds at 2.31% (+6pts) and US T-Bonds up +6.2pts to 3.663%.
The dollar is strengthening slightly at 1.0725E (+0.25%), while the $-Index is also up +0.3% at 103.85E.

In French company news, TotalEnergies announced that at the close of the subscription period, 52,602 subscribers in 94 countries, representing 45.8% of eligible employees and former employees, had subscribed to the capital increase reserved for them, for an amount of 353.9 million euros.

Alpha MOS announced last night that it had completed, on schedule, the second clinical study on its non-invasive breath glucose monitoring device.

Carbios announced on Friday that it had signed a memorandum of intent with Thailand's Indorama Ventures to form a joint venture dedicated to the construction of their joint biorecycling plant.


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