(CercleFinance.com) – The New York Stock Exchange should open without much relief on Tuesday morning after having aligned three sessions of increases in a row, a winning series which has brought it back close to its historical records.
Half an hour before the opening, the futures contracts on the main New York indices are stable, even advancing by 0.1%, suggesting an unchanged or almost unchanged start to the session.
The trend is more mixed after the gains recorded the day before, mainly due to the strength of technology stocks, and which allowed the Nasdaq to approach its historic highs.
The Nasdaq thus returned last evening to around 1% of its historic record at the beginning of April.
The prospect of the Fed soon easing its monetary policy for the first time since 2020 was reinforced on Friday by worse-than-expected employment figures.
The increasingly credible scenario of a slowdown in growth and inflation gives the Fed one more argument to reduce its rates from September.
After this upward movement – which has also allowed the S&P 500 to return to 1.3% of its peaks – investors could find it a little more difficult to find elements to push the indices further forward.
However, the underlying upward trend does not seem to be called into question, particularly in view of the relaxation of the ‘VIX’, the barometer of fear, and the psychological dispositions displayed by investors.
Market participants already seem to be starting to think about the next publication of Nvidia’s results, scheduled for May 22, which should be solid and confirm the good direction of technology stocks, the real locomotives of the market.
The day being devoid of any economic statistics, investors turned this morning to the publications of companies which continue to be in full swing.
Disney is therefore expected to be down 7% after having nevertheless revised upwards its profit target for the financial year on the occasion of the publication of its quarterly results.
US Treasury yields hit a one-month low, against the backdrop of a buying trend in the bond compartment in anticipation of an upcoming shift in the Fed’s monetary policy.
On the oil front, American light crude started to fall again and fell 0.8% to $77.8 after its short-lived surge the day before.
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