The Paris stock exchange is up 0.3% this morning, hovering around 8,120 points, bolstered by Legrand (+1.9%) and Safran (+1.5%). The banking sector is also performing well, with Société Générale and BNP Paribas each gaining 1.4%.

Across the Atlantic, Wall Street began December on a subdued note, with losses yesterday ranging from 0.9% for the Dow Jones to 0.4% for the Nasdaq at the closing bell.

Futures on New York indices suggest another lower opening for U.S. markets today, with declines expected to be between 0.1% and 0.2% at this stage.

Analysts are not particularly concerned, viewing this brief pause as a logical "breather" after the recent rebound in the indices.

"I think it's simply a small breather," said Michael Brown, market analyst at Pepperstone. "The S&P 500, for instance, posted its strongest weekly gain since last May last week and had just ended five consecutive sessions of gains, a first since mid-September," he pointed out.

"A short pause after such a surge is therefore unsurprising, and really nothing to worry about," the strategist added.

A similar sentiment was echoed by Danske Bank's market teams in their morning report.

"Markets are simply entering a 'wait-and-see' phase ahead of the avalanche of data expected in the coming days, which had been delayed due to the shutdown," the Danish bank noted.

While waiting for the wave of indicators due out from the U.S. by the end of the week--including the ADP private employment report, ISM services index, and the PCE inflation gauge--investors will turn their attention at 11:00 a.m. to eurozone inflation figures for November, which are expected to remain unchanged from October.

Year-on-year, the Consumer Price Index (CPI) is expected to come in at 2.1% for the past month, matching the previous month's figure.

"According to national data already released (Germany: 2.6%, France: 0.8%, Italy: 1.1%, Spain: 3.1%), average inflation in the eurozone has remained close to the 2% target," analysts at Oddo BHF noted.

"Through mid-2026, the profile could be somewhat volatile due to base effects in the energy sector," the research firm added.

With annual inflation now seemingly anchored around the 2% target, it is not certain that these figures will be enough to prompt the European Central Bank (ECB) to move away from its current cautious stance, as interest rates currently appear to suit both hawks and doves.

Given the region's moderate growth, some observers believe it is not entirely out of the question for the Frankfurt institution to ease rates in December and again in February.

On the economic front, the eurozone unemployment rate--also due at 11:00 a.m.--is expected to remain stable at around 6.3%.

In London, Brent crude is down 0.3%, trading near $63.1. The euro remains steady against the U.S. dollar, at $1.16.

In the bond market, the 10-year OAT is at 3.48%, while the equivalent Bund stands at 2.76%.

In French corporate news, Compagnie des Alpes reported a 15.8% increase in group net income for the 2024-25 fiscal year, reaching EUR107 million, and a 16.7% rise in EBITDA to EUR409 million, "in line with the latest guidance."

TotalEnergies and TES announced they have signed an agreement with Osaka Gas, Toho Gas, and Itochu for the development and operation of the Live Oak project, in which the three Japanese companies will collectively hold a 33.3% stake.

LVMH has announced the appointment of Pietro Beccari as CEO of the LVMH Fashion Group, effective January 1, 2026, succeeding Sidney Toledano, who has decided to step down from operational duties after more than 30 years alongside Bernard Arnault.

Finally, LDC (Lambert Dodard Chancereul) has formed a strategic partnership with the Buchanan family by acquiring a majority stake in Green Label Holdings, a transaction finalized on December 1.