As a reminder, on the other side of the Atlantic, the S&P 500 ended yesterday's session down 1.6% at 6,833 points, while the Dow Jones dropped 1.3% to 49,452 points and the Nasdaq 100 slipped 2% to 24,688 points.


All Eyes on U.S. Inflation

Attention will turn this afternoon to the U.S. Consumer Price Index (CPI) for January, with consensus expecting a slowdown to 2.5% year-on-year, after 2.7% in December 2025.

"The rather satisfactory employment report for January contrasts with disappointing consumer spending data in December... and, for now, does not provide the Fed with any additional reason to proceed with further rate cuts," notes Alexandre Baradez.

"Ahead of the release of these inflation numbers, the market is not expecting another Fed rate cut before June. We'll see if the inflation data confirms this scenario... or not," continues this head of market analysis at IG France.

Also on the statistics front, investors are digesting this morning a new estimate of eurozone GDP for the fourth quarter of 2025, which showed 0.3% growth in its initial reading at the end of January.


Safran Stands Out After Solid Annual Results

In Paris, investors are weighing the many earnings reports released by companies since last night, with a particular nod to Safran, which is leading the CAC 40 with a gain of nearly 7%.

"2025 was a remarkable year for our activities, driven by record passenger traffic and sustained momentum in defense," commented CEO Olivier Andrés, who also highlighted a record number of LEAP engines produced.

Not only did the aerospace engine manufacturer see its current operating income rise by more than a quarter last year, but it also raised its longer-term ambitions, now targeting operating income of 7 to 7.5 billion by 2028.

While investors are also welcoming Capgemini's annual results (+3%), marked by a 6% increase in normalized EPS, they are clearly punishing those of L'Oréal (-4%).