Overview
- Paris traded nearly flat after a sharp drop, with the CAC 40 up 0.03% around 10:30 a.m. local time following Thursday’s 1.36% slide as investors weighed mixed European results.
- Company moves were stark in Paris: Legrand tumbled about 11% after revenue growth missed estimates, Air France-KLM fell roughly 12.5% on a 7% profit decline, and ArcelorMittal jumped about 5.7% on stronger earnings and an EU steel plan push.
- Wall Street fell on Thursday (Dow −0.84%, S&P 500 −1.12%, Nasdaq −1.90%) led by big-tech weakness, then turned higher Friday as investors bought back into large-cap tech following strong Amazon and Apple updates.
- A U.S. Supreme Court hearing signaled skepticism over large portions of Trump-era tariffs, adding uncertainty that analysts say could entail substantial refund liabilities and fiscal strain.
- The longest U.S. government shutdown has stalled key releases such as the PCE inflation gauge, clouding Fed visibility as Treasury yields hovered near 4.08%–4.09%, and Tesla shareholders reportedly approved Elon Musk’s pay plan in a closely watched vote.