FX.co ★ CAC 40 Slips 0.4% Ahead of US Economic Releases

On Thursday, the CAC 40 index in Paris experienced a decline of 0.4%, dipping to 7,790 as it continued the losses from the previous session. Investor sentiment stayed cautious amidst the anticipation of various US economic reports. Key focal points for the markets include the forthcoming final reading of Q2 GDP, scheduled public comments from Federal Reserve officials, and the core Personal Consumption Expenditures (PCE) price index set to be released on Friday. Federal Reserve Chair Jerome Powell has provided limited guidance on future policy directions, prompting traders to consider these economic indicators as crucial for predicting the Fed’s next actions. In specific stock movements, TotalEnergies SA saw a decrease of 1.2% following its announcement to adjust share buybacks in response to fluctuating energy prices due to economic and geopolitical uncertainties. Additionally, the company's board revisited its strategy for 2030, reaffirming its commitment to hydrocarbons, particularly liquefied natural gas (LNG), and electricity, with an investor presentation anticipated on September 29. The overall market downturn was also impacted by declines in Essilor (-1.4%), Saint-Gobain (-1.3%), Legrand (-0.9%), and Société Générale (-0.6%).