The Paris Bourse, which in 1 hour quickly wiped out the previous day's gains (+0.5%), acquired in an abysmal vacuum in terms of volume and doubled its losses (-1.1%) despite a stable opening on Wall Street after a 3-day weekend (Memorial Day on Monday).
The CAC40 is down to 8,050 points (with barely 1.1 billion euros traded in 8 hours), the Euro-Stoxx50 is down -0.8% and the DAX40 -0.6%.

The reopening of New York could have boosted investor morale, with indices still likely to set new all-time highs this evening (as they did on Friday), such as the Nasdaq Composite, which gained +0.5% to break the 17,000-point barrier (the S&P500 gained 0.1%... but that's "green").
But once again, Nvidia accounts for 100% of the rise in the 2 US indices, with a +5.5% increase to over $1,120 (+$135 billion in additional 'capi', the equivalent of a Sanofi in a few minutes).
Nvidia ($2,800 billion) is now hot on the heels of Apple ($2,935 billion) and 'weighs' as much as all German stocks + Belgian stocks!

US consumer confidence improved against all expectations in May: the Conference Board reported a score of 102, compared with 97.5 in April, while the consensus was for a decline to 96.

More important dates will mark the end of the week, starting with Friday's release of inflation figures, which will be closely watched in both the US and Europe.

These data will provide further information on future interest rate trends, particularly from the Fed, in a climate of growing skepticism about the possibility of further rate cuts.

The recent episode of consolidation on the world's financial markets suggests that investors are waiting for a clear signal before deciding which direction to take.

While the markets are affected by greater 'anxiety' about Fed policy, they can also draw on the confirmed resilience of the US economy, which is now accompanied by a recovery in activity in Europe.

Clément Inbona, fund manager at LFDE, points out: "The good macroeconomic figures in the USA and the rebound in European growth, after five quarters in a row of sluggishness, are translating into upward revisions to earnings forecasts for fiscal 2024 on both sides of the Atlantic.

While the overall climate appears rather favourable for risky assets, valuations remain stretched, particularly in the USA, with stock market indices close to record highs.

In terms of interest rates, the yield on the ten-year German Bund, the benchmark for the eurozone, fell by 3.5Pt to 2.581%, our OATs were up 3.4Pts to 3.062%, and the reopening of the US bond market failed to provide any support, with T-Bonds down 1,7Pt to 4.4900%

On the oil market, crude oil prices recovered slightly (+0.7% to $83.6 in London) on the back of a weaker dollar: The euro gained +0.1% to $1.0870.)
U.S. light crude (West Texas Intermediate, WTI) gained almost +1% to $79.45.
The ounce of gold also firmed to $2,350/Oz, while silver gained 1% to flirt with $32/Oz once again.

In French company news, Vinci reports that the town of Milton Keynes, in the UK county of Buckinghamshire, has renewed the contract for the maintenance and improvement of its road infrastructure with Ringway, a local subsidiary of Vinci Construction.

TotalEnergies announced on Tuesday that its joint venture TE H2 had signed a memorandum of understanding with the Austrian electricity company Verbund for the implementation of a large-scale green hydrogen project in Tunisia.

Airbus announced that its subsidiary Airbus Protect had signed a cooperation agreement with Aura Aéro for the certification of ERA, the next 19-seat hybrid-electric regional transport aircraft developed by Aura Aéro.

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