The Paris stock market is down by almost 0.2% this morning, around 7565 points, penalized in particular by Renault (-1.9%) and Eurofins Scientific and URW (-1.1%).

Caution is the order of the day following yesterday's sharp decline on Wall Street, and ahead of the publication of numerous economic indicators in the USA.

Confirmation of the reactivation of the long-term uptrend is still in the balance, and it's the breakout of the 7612.5/7644 points zone that will really validate it", say the analysts at Kiplink Finance.

We would then target 7706 or even 7776 points", explains the Paris-based brokerage firm.

"Conversely, a break of 7565 points would sound the intraday alarm, with the bottom of the bullish channel active since October in view, which lies between 7500 and 7512 points", adds Kiplink.

In New York, the S&P 500 yesterday suffered its worst correction since September 26 (-1.5%), a surprise fall that no-one had seen coming given the euphoric mood that had prevailed for a week.

A number of indicators are expected to drive the markets on Thursday, ahead of tomorrow's release of household income and expenditure figures, including the PCE price index, which is closely watched by the Federal Reserve.

Also on the agenda are the third estimate of Q3 GDP, the Philadelphia Fed index, jobless claims and the Conference Board's leading indicators.

In the meantime, the US bond market remains on a downward trend, having extended its losses yesterday: the yield on ten-year Treasuries is back towards 3.87%, the lowest since mid-July.

The European market is following suit, with the yield on the ten-year Bund now well below the 2% mark, at 1.95%.

Brent crude oil is up nearly 1%, at $79.9 a barrel, while the euro remains stable against the greenback, at $1.094/euro.

In French company news, Airbus announces that the Spanish Ministry of Defense has placed an order for 16 Airbus C295s in Maritime Patrol Aircraft (MPA) and Maritime Surveillance Aircraft (MSA) configurations, a contract worth almost 1.7 billion euros.

Casino announced on Thursday the convening of a forthcoming meeting to enable its shareholders and creditors to vote on the draft accelerated safeguard plans.

Neoen announced that it had won 104.4 MWp of solar projects in the latest government call for tenders in France managed by the Commission de Régulation de l'Energie (CRE), making it the leading winner of CRE calls for tenders to date.

Finally, Groupe Crit announces the signature of a memorandum of understanding for the acquisition of a 57.7% majority stake in Openjobmetis, Italy's sixth-largest temporary staffing company, at a price of 16.50 euros per share.

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