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CAC 40 futures indicate a reopening above 7,600 this morning

Yesterday the French CAC 40 managed to reject another drop below 7,500. The index was clearly helped higher by the opening gains on Wall Street and that later led the CAC to close 0.91% higher, at 7,571. That rebound from an earlier session low at 7,482 ensured the CAC was the best performing major index yesterday. The DAX gained 0.37% and the FTSE 100 rejected a higher close, when it ended the day 0.06% in the red. The further gains stateside and record closes for the Nasdaq 100 and S+P 500 indexes helped to push the CAC 40 futures to price a reopening above 7,630. They are not far off that high right now. So, the acid test for the CAC 40 later this morning, will be whether or not the markets use this potential further rebound as a better level to sell. We shall shortly find out, when the index reopens in around 40 minutes from now

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