Listen to the latest market mood for the CAC40.
Yesterday’s positive vaccine news on the Pfizer headlines caused investors to buy everything in a snap move higher across global stocks. Bond markets were also sold off and yields raced higher across major bond markets. When the European stock markets closed yesterday US stocks were still near their record highs. However, now there has been a strong reversal in US stocks. S&P500 E-mini futures are over 3.5% off their highs and Europe still faces a winter of a health crisis that can’t be avoided by a vaccine.
This means that there should be a retracement lower in the CAC40 after yesterday’s euphoria. Expect sellers on the CAC40 today.
Trade Risks: The main risk to this trade is if more positive vaccine news boosts stocks higher.