(CercleFinance.com) – Wall Street is expected in the green on Wednesday after its decline over the past two days, although investors should remain cautious before the publication of several indicators on the economy.
Half an hour before the opening, futures contracts on major US indices are advancing 0.6% on average, signaling an opening in positive territory.
Investors await the publication, at the start of the session, of the services index of the Institute for Supply Management (ISM), which should provide more information on the probability of a recession in the United States.
Stakeholders will also closely follow the publication of industrial orders, the rise in which should have slowed to +0.9% in June after a jump of 1.6% in May.
Will also be monitored, at the very beginning of the session, the activity index for the services sector compiled by the teams of S&P Global.
If these figures are good, it could encourage the US Federal Reserve to accelerate its rate hikes, while worse than expected figures could delay its monetary tightening measures.
After gains of more than 9% in July, the S&P 500 index has lined up two consecutive sessions of decline since the start of the week, weighed down in particular by renewed tensions between the United States and China.
This episode, however, seems to have caused only a temporary disturbance since the visit to Taiwan of Nancy Pelosi, at the center of Beijing’s ire, is already coming to an end.
Among the most prominent values, the pharmacy chain CVS Health raised its profit forecasts for the current financial year on the occasion of the publication of its quarterly results.
Moderna reported, for its part, quarterly performance above expectations and announced the launch of a three billion dollar share buyback program.
On the downside, Yum! Brands reported second-quarter adjusted EPS down 9% despite same-store sales growth of 1%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.