(CercleFinance.com) – Futures on the S&P500 (-0.8%) and the Nasdaq-100 (-1.1%) augur a cautious start to 2024 on Wall Street, at the end of a long series of bullish weeks for the major American equity indices.
Hopes of rate cuts by the Federal Reserve this year have in fact made it possible to end 2023 with solid annual balance sheets, with gains of around 14% for the Dow Jones, 24% for the S&P500 and 43%. for the Nasdaq Composite.
Questioning the outlook for US stocks in 2024, BNY Mellon IM warned last week that ‘while it is possible to achieve a good year of returns, we must recognize that the level of uncertainty remains high’ .
He said the risks to US stocks have receded thanks to slowing inflation, but it is ‘difficult to justify high valuations and strong earnings prospects in the current macroeconomic environment.’
This first week of 2024 will see the release of statistics, such as the PMI indices (including that of the manufacturing sector this Tuesday) and the employment report for December, as well as some quarterly publications from companies such as that of Walgreens.
For now, Bristol Myers Squibb has announced that the European Medicines Agency has validated its marketing authorization application for its repotrectinib in forms of non-small cell lung cancer and solid tumors.
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