(New York) The New York Stock Exchange ended slightly higher on Monday after a hesitant session in weak trading, on the eve of numerous company earnings announcements on Tuesday.
The Dow Jones Index gained 0.30% to 33,987.18 points, the tech-heavy NASDAQ rose 0.28% to 12,157.72 points and the S
“We were surprised by an Empire State indicator of activity in the New York area that went from negative to positive,” observed Peter Cardillo of Spartan Capital Securities.
The New York-area manufacturing activity index for April returned to growth for the first time in five months, helped by a rise in orders.
It climbed 35 points to 10.8 points, according to the monthly Empire State survey, published by the New York branch of the American central bank (Fed) and carried out among industrialists in the region. . It will be supplemented on Thursday by the publication of industrial activity in Philadelphia.
“But the rally in bond yields and the dollar also weighed on the trend because investors believe the Fed will raise interest rates another 25 basis points in May,” added the analyst.
Yields on ten-year treasury bills stretched to 3.59% from 3.51% at the last close, while two-year ones, even more sensitive to rate hikes, climbed to 4.19% against 4.09% Friday around 4:15 p.m. EST.
Trading volume remained weak as investors took a wait-and-see stance ahead of Tuesday’s burst of corporate earnings.
“The start of the earnings season is too good to be true,” commented Edward Moya, analyst for Oanda. 2012″.
“The pessimism was so great that [analysts’] estimates were revised down which led to all announcements exceeding them,” he said.
On Tuesday, the banks Goldman Sachs (0.80%) and Bank of America (2.95%) as well as the defense group Lockheed Martin and the Johnson and Johnson laboratory are to announce their quarterly results.
On the NASDAQ side will also be watched Netflix (-1.75%), then Wednesday Tesla (1.10%).
Several speeches by members of the Federal Reserve will also be listened to with interest by the markets two weeks before the next Fed monetary meeting on May 2-3.
Listed asset manager State Street tumbled 9.27% after reporting lower earnings and lower deposits.
Event on the NASDAQ, the action of Alphabet dropped 2.78% to 106.42 dollars after an interview with the boss of Google, Sundar Pichai who invited to avoid haste in the application of artificial intelligence.
The changes that AI will bring “are more profound than fire or electricity or anything that has been done in the past,” he said, adding that the behaviors of the technology “were not fully understood”.
In session, the internet giant dropped up to 50 billion dollars in capitalization also because of press reports indicating that Microsoft’s Bing search engine could be preferred to that of Google, used so far by default on Samsung phones.
