(CercleFinance.com) – The New York Stock Exchange should open in the green on Wednesday morning in the wake of well-received results from Ford and Uber, two heavyweights on the stock market.
Half an hour before the opening, the main New York indices are heading towards gains ranging from 0.2% to 0.4%, which should allow the S&P 500 and the Nasdaq to return to levels close to their historic highs.
The New York Stock Exchange had consolidated horizontally on Tuesday, but a slightly bullish bias ended up winning out thanks to a decline in bond yields.
The Dow Jones index (+0.4%) had recorded a seventh increase in nine sessions and in the process recorded its second best close of all time following reassuring economic indicators.
Belief that the U.S. economy is headed for a soft landing was bolstered by optimism about earnings season and a string of better-than-expected releases.
In the absence of meaningful indicators, investors focus on company results, studying their resilience in order to gauge the health of the U.S. economy as a whole.
Ford gains nearly 6% in pre-stock market quotations following better-than-expected quarterly results, despite the UAW strike, and positive outlook for 2024.
Uber, for its part, revealed an attributable net profit of $1.4 billion for the last quarter of 2023, as well as an adjusted EBITDA margin improving by 1.2 points to 3.4%, a new historic record. .
Against the trend, Snap – the owner of the Snapchat messaging application – fell 30% outside the session after reporting disappointing results and forecasts.
In economic terms, the United States trade deficit widened slightly to 62.2 billion dollars in December, compared to 61.9 billion in November, according to figures from the Department of Commerce.
The other highlight of the session will be the release during the morning of oil stocks which could well have an impact on the price of a barrel of Texas crude (WTI), currently up 0.7%. at $73.8.
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