The CAC 40 had a volatile week, for the first of the 2022 stock market vintage. A week that perhaps bodes well for what awaits us for the year as a whole, which should be more uneven than 2021. After a fanfare start from Monday to Wednesday, the Fed ended up dampening the mood, suggesting several turns of monetary screws and a reduction in its balance sheet, in order to counter inflation deemed to be worrying. “The catalysts for inflation are still numerous (oil effect, supply and production constraints, acceleration of rents, rising labor costs, etc.), but central banks and governments will only withdraw very gradually to avoid destabilizing the economy. economy”, judges Alain Guélennoc, Managing Director of Federal Finance Gestion.
The evolution of the monetary policies of the central banks and that of inflation, which is no longer qualified as transitory, will be decisive for the stock market. “In the United States, if wages increase to take into account the rise in inflation (thus triggering second-round effects), this will reinforce the Fed’s monetary tightening policy”, warns the expert, for whom this However, the risk seems much more limited in the euro zone, “given the labor market environment”. If the Omicron threat subsides, and barring new geopolitical tensions, then “some form of normalization should take place, which will involve a catch-up on the rise in rates and greater selectivity in the equity markets”, warns -he.
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Stock market: volatility has been put to good use for our subscribers
This week, Momentum was able to take advantage of market volatility. On the equities front, the upward acceleration of the CAC 40 in the first part of the week was correctly anticipated, as were the profit taking from Thursday… Certain equities analyzed in recent months, such as Bénéteau or Carrefour (carried by rumors of takeover by Auchan), have sparked recently. Conversely, Pernod Ricard disappointed, but the positions were able to be unwound quickly (fairly tight protective stop).
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Many stocks (Rothschild, Microsoft, Française des Jeux, etc.) have been dissected, with bullish or bearish expectations. And the main indices (CAC 40, Nasdaq, S&P 500, Dow Jones, etc.) have been analyzed. On the cryptocurrency side, our caution on the compartment and Bitcoin paid off.
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