Overview

• Wall Street slipped Tuesday after Jerome Powell warned against “too‑sustained” rate cuts, tempering enthusiasm that followed the Fed’s first reduction since December 2024.
• Eurozone private‑sector activity strengthened in September with PMI at 51.2, while France contracted again at 48.4, underscoring regional divergence.
• Paris’s CAC 40 rose 0.54% to 7,872 on Tuesday but eased 0.15% to 7,859 by mid‑morning Wednesday as investors turned cautious.
• Nvidia’s $100 billion plan to build OpenAI data centers powered a tech surge and fresh U.S. records Monday and lifted Paris names like Atos and STMicroelectronics before profit‑taking hit megacaps Tuesday.
• Sector moves were mixed, with auto stocks weighed by German profit warnings and reports of Stellantis plant stoppages, defense shares Thales and Dassault Aviation gaining on renewed geopolitical focus, and Sanofi noting a CHMP positive opinion for Dupixent in chronic spontaneous urticaria.