(Boursier.com) — Wall Street lost a bit of ground before the stock market this Friday, just before Fed Chairman Jerome Powell spoke at the Jackson Hole symposium in Wyoming, a high mass for central bankers . The S&P 500 lost 0.2% in pre-session, the Dow Jones 0.1% and the Nasdaq 0.3%. Recall that the US rating had strongly recovered last night, with a rally of nearly 1.7% of the Nasdaq and a gain of about 1% for the DJIA. On the Nymex, a barrel of WTI crude stabilized at $92.6. The ounce of gold declined by 0.7% to $1,759. The dollar index returned 0.3% against a basket of currencies.
The personal income of American households for the month of July 2022 appreciated by 0.2% compared to the previous month, against a consensus of +0.6% and an increase of 0.7% a month before. Personal consumption expenditure for the month of July increased by 0.1%, against 0.4% consensus and 1% in June. The good news comes from the ‘core PCE’ price index, closely followed by the Fed, which stood at +0.3% in July compared to the previous month, against 0.6% consensus. This adjusted price index rose 4.7% year-on-year, against 4.8% market consensus.
The balance of international trade in goods (advanced reading) for the month of July showed a deficit of $89.1 billion, against a consensus of -97.5 billion and a revised level of -98.6 billion. dollars a month earlier.
Chinese stocks listed on Wall Street should do well this Friday, as Beijing and Washington have just reached an agreement. The US audit regulator said on Friday it had signed an agreement with Chinese regulators, taking a first step towards inspecting accounting firms registered in China and Hong Kong. The Public Company Accounting Oversight Board (PCAOB) said it was the most detailed and prescriptive agreement the PCAOB has ever entered into with China.
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Electronic Arts soars before the stock market on Wall Street, while the title Amazon loses some ground. The American e-commerce giant could indeed announce an agreement to acquire the video game publisher. According to USA Today, rumors have swirled online about Jeff Bezos’ potential takeover of EA. Apple and waltz disney would also be considered as possible suitors for the game publisher. Such a deal would not be strategically absurd, after a comparable move of Microsoft who offered himself Activision Blizzard for $69 billion.
Amazon recently announced the acquisition of iRobot, the designer of the Roomba household robot. Electronic Arts would be a bigger piece with its $35 billion market value.
The Amazon / EA rumor remains to be taken with a grain of salt. On CNBC, David Faber, citing his own sources, believes that Amazon is not about to make an offer on EA.
KKR withdraws its offer of 88 Australian dollars per share on Ramsay Health Care, indicates the Australian Financial Review (AFR), reporting that the American investment fund would have sent a letter to the board of directors of Ramsay, in order to say that the offer was abandoned. Instead, KKR would intend to acquire Ramsay’s Australian operations and leave Ramsay’s France operations to Ramsay Health investors… Ramsay Health Care’s board would be keen to engage with KKR, but they believe that the all-cash offer should be respected or that the terms of the alternative proposal should be improved.
Merck. The American acquisition talks Merck with his compatriot seagen would be stalled, due to a disagreement on the price, reports Bloomberg. People familiar with the matter quoted by the agency say that while talks could still resume, Merck and Seagen have not been able to agree on a price so far. Last month, the Wall Street Journal mentioned negotiations around a potential price of more than $200 per Seagen share. The American pharmaceutical giant has been studying the acquisition of the biotechnology firm for some time now. Seagen currently weighs 30 billion dollars on Wall Street, against 228 billion dollars for Merck & Co. The newspaper then added that difficulties could also be encountered with regulators.
Moderna continues Pfizer and his German partner BioNTech for patent infringement in the development of the first Covid-19 vaccine approved in the United States, alleging that they copied technology that Moderna developed years before the pandemic. The lawsuit, which seeks indeterminate damages, was filed in the U.S. District Court in Massachusetts and the Düsseldorf Regional Court in Germany, Moderna said in a press release Friday.
“We are filing these lawsuits to protect the innovative mRNA technology platform that we pioneered, invested billions of dollars in creating, and patented in the decade before the pandemic,” the director said. General of Moderna, Stéphane Bancel.
marvelthe American chip designer, corrected before the stock market on Wall Street after guidance deemed disappointing for the third quarter, and despite a solid second quarter supported by data center activities.
Bed Bath & Beyondthe struggling US retailer, crumbling under massive debt and recently let go by investor Ryan Cohen, boss of GameStop, will share its strategy next week.
Affirm, the American fintech group, plunges before the stock market on Wall Street. The just disclosed quarterly loss came out much heavier than expected. The forecasts are also flat.
Ulta Beautythe US beauty chain, raised its annual revenue and profit targets amid continued strong consumer demand.
gap, the US retailer, posted positive adjusted earnings above market expectations. Revenues also beat the consensus. The title benefits today on Wall Street. Gap, however, withdraws its annual guidance, against a backdrop of the search for a new CEO and economic uncertainty.
Dell Technologies revealed last night a revenue forecast that fell short of expectations, after recording its weakest growth in activity in more than a year and a half in the second quarter, due to inflation, the strong dollar and the epidemic in China.