The Paris Bourse was making slow progress before the publication of the US CPI (+0.6% towards 7,835), in an average volume of 1.12 billion euros, but the rise accelerated to +1% towards 7,865pts at 2:35 pm.
The Euro-Stoxx50, which recovered 1.5%, symbolically returned to 5,050pts, and the DAX40 (also +1.5%) to 18,650.

Buoyed by slightly lower-than-expected CPI inflation figures, the US indices set a cascade of records, with the S&P500 (+1.3% to 5,4454) and above all the Nasdaq.
The Nasdaq was swept along by a veritable wind of euphoria, with a spectacular +1.8% to 17,650 (a record which is no doubt provisional, as the close is still a long way off).
The Nasdaq opened a huge gap of +150Pts above 17.343 in the wake of the usual 'stars'.
Apple had been the locomotive the previous day with +7.2%, Nvidia took its revenge with a +5% gain to set a new record at $126.5 (after splitting the nominal by 10 on Monday).
The Fed's announcements are expected at 8:00 p.m. (Paris time) and will be followed, from 8:30 p.m., by a press conference by its Chairman, Jerome Powell.

In Europe, the session was punctuated by the publication of the latest German inflation figures: the consumer price index (CPI) - was +2.4% in May 2024 according to Destatis, up +0.2% (in April and March 2024, the Rate was +2.2%).

After two months of increases, British industrial production fell again in April. The Office for National Statistics (ONS) reported this morning that industrial production was down 0.9% on the previous month, while analysts at Bank of America were expecting a more limited fall of 0.4%.

Today's busy agenda should enable investors to refocus their attention on more 'economic' subjects (rather than the European elections.
The major selling movement observed yesterday lunchtime on OATs faded with J.Bardella's announcement that the Retirement Law requiring people to work until the age of 64 will not necessarily be called into question.

Ten-year French bond yields eased sharply (-8.5 basis points) to around 3.16%, but this did not enable them to narrow the gap with their German equivalent, which eased by -10 basis points to 2.500% (spread of +64 basis points vs. 49 basis points last Friday).

Across the Atlantic, the bond market confirmed its improvement before CPI, with the yield on 10-year Treasuries holding on to the previous day's gains at 4.39/4.40%.

Oil prices are back on the rise as we await the release of US crude inventories later this afternoon.

Brent crude is up 0.9% to $83, while West Texas Intermediate (WTI) is up 0.7% to close to $79

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