(New York) The New York Stock Exchange indices opened stable on Monday at the start of a very rich week in corporate results, especially banking.
The Dow Jones index nibbling 0.04%, the NASDAQ, with strong technological coloring, yielded 0.08% while the S
On Friday, Wall Street finished narrowly in the red after mixed indicators. But she ended the week in positive territory.
The Dow Jones posted a weekly gain of 1.2%, in the green for the fourth week in a row. The extended index S
Last week saw a good start to banking results with JPMorgan and Citigroup in particular, but on the macroeconomic front, retail sales and industrial production were disappointing.
Investors are still banking on a further modest interest rate hike by the US central bank (Fed) in early May, which wants to bring inflation down to 2%.
They will have more information on the state of the US economy, following the Fed’s latest report — the Beige Book — which will be released on Wednesday.
On the positive side, the New York-area manufacturing activity index for April returned to growth for the first time in five months, thanks to an increase in orders.
The index measuring the evolution of this activity climbed 35 points, to settle at 10.8 points, according to the monthly Empire State survey, published Monday by the New York branch of the American central bank (Fed ) and carried out with industrialists in the region. It will be supplemented on Thursday by the publication of industrial activity in Philadelphia.
This week, a host of company results are expected, including Schwab on Monday then Tuesday the banks Goldman Sachs and Bank of America as well as the defense group Lockheed Martin and the Johnson laboratory.
On the NASDAQ side, Netflix will be watched on Tuesday after the market closes and Tesla on Wednesday.
Listed, Schwab’s stock fell 2.45% after the bank and brokerage reported improved first-quarter results from the comparable period a year ago, but lower results from the fourth quarter .
The establishment’s results were closely observed after the banking difficulties in March, because its activity is based to a large extent on the evolution of interest rates. Schwab also announced a pause in its own share buyback program.
Asset manager State Street for its part collapsed by 14% after announcing a decline in its profit while the regional bank First Republic yielded 2.50% around 10:15 am (Eastern time).
Alphabet’s stock was down 3% after Google boss Sundar Pichai’s CBS interview aired on Sunday night, which called for avoiding rush in applying artificial intelligence.
The changes that AI will bring “are deeper than what fire or electricity have brought or anything that has been done in the past,” he said, adding that the behaviors of the technology “ were not fully understood ”.
On the bond market, the rates on 10-year Treasury bills advanced to 3.56% against 3.51% at the end of the week while those at two years stretched to 4.15% against 4.09%.
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