Market snapshot for early 2026
The CAC 40 cash index closed the last session up 0.58% at 8,195.21 points, with a weekly gain of 1.13% and a turnover of €2.848 bn.
Paris opened 2026 in a calm mood, while December data painted a mixed picture. In France, manufacturing activity rebounded sharply, with the PMI jumping to 50.7 from 47.8 in November, driven by a resurgence in foreign orders. By contrast, the euro‑zone manufacturing PMI slipped to 48.8 – its lowest level in nine months – as new orders remained weak.
On a year‑to‑date basis, the CAC 40 is up 10.4% for 2025. Although trailing London (+21.5%) and Frankfurt (+23.0%), the French benchmark has performed respectably despite the political turbulence that hit France last year.
Across the Atlantic, equities continued their upward march: the S&P 500 gained 16.4%, the Nasdaq Composite rose 20.4%, and the Dow Jones added 13.0%, marking a third straight year of growth. Globally, stocks posted their best performance since 2019, even after a sharp spring dip triggered by higher U.S. tariff announcements. The rebound was fueled by solid corporate earnings and renewed optimism around artificial‑intelligence technologies, though concerns linger over U.S. monetary policy and lofty tech valuations.
Technical outlook for the January 2026 CAC 40 future
Key resistance levels (from low to high): 8,177.5 | 8,201 | 8,218 | 8,282 | 8,329.5 | 8,360 | 8,450 | 8,495.
Key support levels (from high to low): 8,169 | 8,146 | 8,134 | 8,106 | 8,090 | 8,055.5 | 7,991 | 7,926.5 | 7,910.5 | 7,897 | 7,859 | 7,830 | 7,765.
The intraday bias remains bullish as long as the index stays above the 8,148‑point mark.
From a chart perspective, the 14:00 CAC 40 future appears ready to start the year on a more positive trajectory. After a false breakout on Tuesday and a pull‑back on Wednesday, the index reclaimed the short‑term upward‑activation line at 8,169 points. This move is encouraging, but a sustained stay above that threshold for two to three sessions is required to confirm the breakout. If validated, the index could retest the 2025 highs in the near term.
Technical indicators back the slightly positive sentiment: the MACD histogram is turning green and the RSI is edging higher. Nonetheless, trading volumes remain thin, signalling that investors are still hesitant to commit fully.
Conversely, a dip below 8,169 points would erode the current momentum and could steer the market back toward the central range around 8,106 points. A break of that median level would open the door to a correction toward the intraday alert zone at 8,043 points.
Conclusion
The early‑year bullish thrust looks to be holding, but confirmation is needed before chasing new peaks. A solid hold above 8,169 points through next week would justify a gradual scaling‑up of positions in growth‑oriented and balanced portfolios. Until the market consolidates further, a disciplined, measured approach remains prudent, while still being ready to act on high‑conviction opportunities.