CAC 40 futures reeling this morning and here is why

As just noted in the previous update, the opening outlook for the CAC 40 is not positive today. The index had been helped higher into the month-end by the rebound in the DAX above 19,600 and the later record monthly close there. So, that helped the CAC 40 rebound above 7,200 and reach a session high at 7,241. The index closed out the month at 7,235, with a gain of 55 points on the day. To be honest, were it not for the DAX, the index surely would have closed lower on Friday and besides that closing level was hardly anything to write home about and certainly not technically positive in any shape or form. The news surrounding the unravelling political situation in France this morning has sent the CAC futures reeling. The risk of a collapse in the very fragile government are riding high right now and the CAC futures are clearly voting with their feet. The negative opening outlook  for Stellantis shares this morning is not helping either. The CAC is currently priced to reopen around 7,125 and once again that 7k level is very much on the radar here this week