Wall Street progressed slightly before market this Thursday, following a new series of results including in particular a big disappointment on the…
(Boursier.com) — Wall Street progressed slightly before market this Thursday, following a new series of results including in particular a big disappointment on the file You’re here and good figuresIBM. The S&P 500 is expected to rise 0.1%, while the Dow Jones gains 0.3% and the Nasdaq 0.1%. Yesterday, the American market finished in disarray, erasing its gains from the session despite the performance of Netflix (+10.7%).
Operators are still anticipating future rate cuts, banking on controlled inflation and a soft landing for the economy. On the Nymex, a barrel of WTI crude rose 1.5% to $76.2. An ounce of gold gains 0.1% to $2,017. The dollar index lost 0.1% against a basket of currencies.
The monetary meeting on January 30 and 31 is also approaching. A new monetary status quo is expected – at 97% according to FedWatch -, but the Fed could then begin to reduce its rates in March or May according to the same barometer (42% probability in March).
On the economic front in the United States, the American PMI indicators surprised yesterday with their strength. The preliminary US Composite PMI for January came in at 52.3, compared with a FactSet consensus of 51 and a reading of 50.9 a month earlier, signaling a slight acceleration in the expansion of the activity. The services PMI indicator stood at 52.9 for its preliminary reading for January, compared to a consensus of 51.5. The manufacturing index also exceeded expectations, at 50.3 against the consensus 47.8.
This Thursday, the day will be busy, with durable goods orders for December starting at 2:30 p.m. (consensus +1%, or +0.2% excluding transport), the Chicago Fed’s national activity index for December (consensus 0.05), weekly unemployment claims for the week ended January 20 (consensus 200,000), the balance of international trade in goods for December (consensus -$88.5 billion), as well as the first preliminary estimate of GDP for the fourth quarter (consensus at a rate of +2% according to Bloomberg, +2.5% for personal consumption expenditure). December new home sales will be released at 4 p.m. (FactSet consensus 645,000), while the Kansas City Fed’s manufacturing index will be announced at 5 p.m.
Finally, on Friday, operators will monitor personal income and household expenditure at 2:30 p.m. (consensus +0.3% for income, +0.5% for expenditure, +0.2% for the price index adjusted in comparison of the previous month, i.e. +3% over one year), then at 4 p.m. the promises of housing sales for December (consensus +2% compared to the previous month).
Earnings season continues on Wall Street. You’re here, ServiceNow, IBM, Lam Research, CSX, Crown Castle, Las Vegas Sands And Seagate published last night after the closing. Comcast, Union Pacific, NextEra, Marsh & McLennan, Blackstone, Sherwin Williams, Northrop Grumman, Valero, Southwest Airlines, McCormick, American Airlines And Dow Inc published today in advance of the session. Visa, Intel, T-Mobile US, Kla Corporation, Capital One, Weyerhaeuser, Western Digital Or Levi Strauss announce after market.
Friday, American Express, Colgate-Palmolive, Norfolk Southern, First Citizens BancShares, Booz Allen Hamilton And Autolivwill reveal their latest quarterly financial results.