The "3 Witches" session ended with the Paris Bourse up 0.63% at 6995 points, marking an 8% gain since the start of the year. Over the past week, however, the CAC40 was down 0.4%, penalized by yesterday's air pocket (-1.9%).

On Wall Street, the US indices are also in green today, including the Dow Jones (+0.5%), the S&P500 (+0.8%) and the Nasdaq (+1.3%), the latter driven in particular by Netflix (+6.7%), whose subscriber numbers (230 million) came in ahead of forecasts.

Nevertheless, after Microsoft and Salesforce announced 10,000 redundancies, it was Google/Alhpabet's turn to announce 12,000 job cuts, or 5% of its workforce. In so doing, these giants of the tech and online advertising industries are acknowledging an already marked slowdown in consumer spending, which could worsen in the United States.

On the statistical front, sales of existing US homes fell back by -1.5%, below their May 2020 levels and even to their lowest since mid-2010: the impact of rising mortgage rates is being cruelly felt.

Over 1 year, second-hand home resales plunged by -17.8%, to an annualized rate of 4.02 million, according to seasonally adjusted data from the National Association of Realtors.

And US long rates are not going to come down any time soon: yesterday, from Davos, several Federal Reserve and ECB officials sent the markets a message of firmness and determination in their fight against inflation, a warning heard by market participants a week ahead of the Fed meeting.

On the bond market, government bond yields deteriorated sharply, with the US ten-year yield up +6.5pts to 3.4650%, our OATs down +11pts to 2.593%, Bunds up +10pts to 2.153%, and Italian BTPs up +18pts to 3.952%.

In company news, Orpea announces the termination of negotiations between a consortium of third-party French investors led by the Caisse des Dépôts et Consignations (CDC) and a group of unsecured financial creditors holding around 50% of its unsecured debt.

EDF announces the successful completion of a senior bond issue for a nominal amount of two billion euros and £950 million, issued in four tranches with maturities ranging from nine to 30 years and coupons from 4.25% to 5.625%.

For the full year 2022, Boiron posted sales growth of 17.4% to 534.2 million euros, including 13.6% at constant exchange rates (+9.4% in France and +26.1% internationally).

Argan (-2.1% at 77E) reported a 6% increase in net recurring income (group share) for 2022, to 118.9 million euros (or 5.2 euros per share), representing 72% of rental income, which also rose by 6% to 166 million.

Lastly, GL Events was one of the SRD's biggest risers, gaining over 7% in Paris following the announcement of its results. Against this backdrop, Oddo is maintaining its outperform rating on the stock, with its target price raised from €20 to €23.

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