(CercleFinance.com) – Wall Street is expected to open lower on Thursday, with investors failing to find new catalysts to push indices up again not far from their historic highs.
Half an hour before the opening, the futures contracts on the main New York indices dropped between 0.2% and 0.6%, announcing a start to the session in the red.
US stock markets had already finished with insignificant scores yesterday, unable to amplify their gains despite the continued decline in bond yields.
The agenda was empty of macroeconomic figures, which certainly contributed to stagnating the scores, and the wave of quarterlies dried up, the latest results no longer providing any real impetus.
This morning, market participants seem to be struggling to find a clear direction after the contrasting quarterly accounts of several big names in technology.
Uber Technologies is expected to decline sharply after publishing a net loss, group share, which widened to $654 million for the first three months of the year.
The social media Reddit should start the session with a gain of more than 12% after delivering convincing performances on the occasion of its first publication of results since its IPO.
While the S&P 500, the benchmark index for fund managers, shows an increase of more than 8% since the start of the year, some analysts are starting to judge valuations as strained in the absence of a precise timetable for the next Fed rate cuts.
In this regard, none of the indicators on the program between now and the end of the week really seem capable of providing a sketch of the state of the economy and therefore providing information on the intentions of the central bank.
The only two statistics expected today are wholesaler stocks and oil stocks.
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