(CercleFinance.com) – Wall Street should open slightly lower on Thursday, with investors catching their breath after the historic records recorded recently and despite much better results than expected from Disney.
Half an hour before the opening, ‘futures’ contracts on the S&P 500 and the Nasdaq 100 fell on average by 0.1%, suggesting a start to the session without much relief.
The American stock markets all recorded new historic peaks yesterday, which notably led the S&P 500 index to establish an absolute zenith at 4999.9 points, a level very close to the major psychological threshold of 5000 points.
This day could be a sort of pause to allow markets to digest their recent gains in the absence of news likely to push them higher.
The trend is also weighed down by the publication of indicators considered encouraging which confirm the good health of the American economy and seem to rule out the scenario of future rate cuts.
The Department of Labor reported 218,000 new registrations for unemployment benefits in the United States the week of January 29, a figure down 9,000 compared to the previous week.
On the results side, Disney posted an 8% increase in pre-stock market quotations the day after the publication of quarterly results above expectations and solid prospects, notably under the effect of its cost reduction measures.
“Today’s results show that its efforts are paying off and that Disney is starting to rediscover some of its magic,” said Josh Gilbert, market analyst for eToro.
Ralph Lauren and Tapestry gained 5.4% and 2.8% respectively in pre-opening while the two fashion groups also revealed performances above the consensus.
On the downside, PayPal is expected to fall by 8% after reporting forecasts considered disappointing for 2024, which some analysts already consider a year of ‘transition’.
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