(CercleFinance.com) – The New York Stock Exchange should start down on Friday morning following the start of the results season, marked by contrasting publications from several large American banks.
Half an hour before the opening, futures contracts on the main New York indices fell from 0.6% to 0.8%, announcing a start to the session in the red.
While this new results season raises a lot of hope, the mixed performances revealed by several financial services groups have somewhat dampened investors’ enthusiasm this morning.
JPMorgan Chase, the largest American bank in terms of assets, lost almost 3% in pre-opening after reporting net earnings per share (EPS) significantly higher than expectations.
But analysts mainly retained from the publication the words of its general manager Jamie Dimon, who said he was worried about the existence of a large number of persistent inflationary tensions, and ‘which could well continue’ according to him.
Penalized by the recent revival of inflation in the United States, which was confirmed in the statistics published this week, the Dow Jones and the S&P 500 are heading towards limited declines this week.
For its part, Wells Fargo is also expected to decline following the announcement of a greater than expected drop in its quarterly profit.
On the rise, Citigroup shares are benefiting from quarterly accounts that are much better than expected, which come as the New York group completed a major restructuring plan last month.
On the economic front, import prices increased by 0.4% in March compared to the previous month, but their increase was limited to 0.1% excluding petroleum products, according to the Labor Department .
Compared to the same month in 2023, import prices increased by 0.4% last month and remained stable excluding petroleum products.
Investors are now awaiting the preliminary version of the University of Michigan Consumer Confidence Index, which will be released shortly after the opening.
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