Wall Street Pre-Opening AOF Analysis – The Pause After the Strong Rise

(AOF) – US markets are expected to decline slightly; a logical consolidation after their strong progression on Tuesday. Among today’s statistics, growth in the third quarter has been revised upwards. The Conference Board’s consumer confidence index in December will follow. Investors are still waiting to learn more about the pathogenicity of Omicron as restrictive measures mount. A few minutes before the first trade, the futures on the S&P 500 and the Nasdaq Composite lost 0.25% and 0.39% respectively.

Yesterday on Wall Street

US equity markets rebounded strongly after losing more than 1% on Monday. They were notably supported by favorable news from the securities side; Micron and Nike having unveiled good results. A certain return of appetite for risk has been noted on the world stock markets. However, this improvement is likely to be short-lived as the spread of Omicron is dazzling in the United States and Europe. The Dow Jones gained 1.6% to 35,492.70 points while the Nasdaq Composite gained 2.4% to 15,341.09 points.

Macroeconomic figures

US growth in the third quarter of 2021 has been revised upwards. In the final version, the GDP grew by 2.3% against 2.1% in the second estimate.

Sales of second-hand homes in November and the Conference Board’s consumer confidence index in December will be released at 4 p.m.

The weekly evolution of oil stocks in the United States will be known at 4.30 p.m.

The values ​​to follow

Biogen

Biogen and its Japanese partner Eisai said Japanese health authorities have decided to continue deliberations on the application for approval of aducanumab for Alzheimer’s disease. The NDC is seeking additional data to submit as part of this process.

BlackBerry

The group specializing in software and services to manage and secure mobile networks, BlackBerry, reported better-than-expected quarterly performance. In the third quarter, ended at the end of November, the Canadian group generated a net profit of 74 million dollars, or 13 cents per share, against a net loss of 130 million dollars, or 23 cents per share, a year earlier. Excluding exceptional items, earnings per share came out at break-even, against -7 cents expected.

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Tesla CEO and founder Elon Musk said he sold “enough shares” to complete his plan to sell 10% of his stake in the automaker, according to an interview with satirical site Babylon Bee . Musk sold an additional 583,611 shares on Tuesday, bringing the total number of shares transferred to 13.5 million, or about 75% of what he had planned to sell.