The Paris stock market gained nearly 0.6%, around 6915 points, the day after a 0.7% rise on the S&P500 and 1% on the Nasdaq. Dassault Système (+2.5%), LVMH (+2%) and Kering (+1.9%) were the main drivers of the Paris index.

Although investors had been more cautious yesterday, they were relieved by the fact that Fed Chairman Jerome Powell refrained from commenting on inflation, the recession or current monetary policy.

Against this backdrop, stock markets are continuing their upward train, with investors still betting on a slowdown in the pace of rate hikes by the world's major banks in the months ahead.

The latest inflation figures, due out tomorrow, may well reinforce their view that monetary policy will be more accommodating from 2023 onwards, accompanied by a 'soft landing' for the economy.

Economists are hoping for a further slowdown in US inflation, which hit 7.1% in November, its lowest level in almost a year.

Another date to keep an eye on: the big banks JPMorgan Chase, Bank of America, Citi and Wells Fargo kick off the quarterly earnings season on Friday.

Earnings of companies listed on the S&P 500 index are expected to fall by 4.1% for the fourth quarter of 2022, according to FactSet estimates, and pleasant surprises could once again be a bullish factor.

Apart from US oil inventories, no major indicators are on today's agenda for Wednesday.

In company news, LVMH announces the appointment of Pietro Beccari, who has headed Christian Dior Couture since 2018, as CEO of Louis Vuitton, succeeding Michael Burke, who will take up a new position reporting directly to the luxury group's CEO, Bernard Arnault.

Dassault Aviation announced yesterday that its Mérignac plant had delivered the Rafale B359 in F3R standard to the Direction Générale de l'Armement on December 29, 2022. This event marks the resumption of Rafale deliveries to France after a four-year interruption for budgetary reasons", says Dassault.

According to Les Echos, Airbus is in preliminary negotiations with Atos to acquire a stake of up to 29.9% in Evidian. The Orange group is also said to be interested, according to the daily.

Finally, yacht manufacturer Fountaine Pajot reports that its order book, covering both the 2022-23 financial year and a large part of the years to follow, enables it to forecast growth for 2022-23 of between +10% and +15%.

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