(CercleFinance.com) – Wall Street should open higher on Monday morning, continuing its favorable momentum of recent weeks, even if its progress could remain limited while waiting for the many meetings scheduled by the end of the week.
Half an hour before the opening, the ‘futures’ contracts on the main New York indices advance from 0.1% to 0.2%, announcing a start to the session in very small rise.
By recovering 1% last week, the S&P 500 index has just aligned three consecutive weeks of growth, while the Nasdaq has granted itself an increase of 2%.
As for the Dow index, it has chained 13 sessions of rise in a row, an unprecedented series since 1987 which ended up interrupting Thursday.
The main event of the week is scheduled after markets close Thursday evening with the publication of quarterly results from Apple and Amazon.
“Based on our recent audits in Asia, we believe Apple should at least report iPhone-related revenue in line with expectations, with upside surprises possible,” Wedbush analysts predict.
While more than half of the results have been published, American companies have so far done better than expected.
According to FactSet, 80% of S&P 500 companies have so far done better than expected on earnings, a performance well above the historical five-year (77%) and 10-year (73%) averages. %).
No economic indicator is on the agenda today but the week will be busy in this area with the high point on Friday, the employment figures for the month of July.
The trend could nevertheless be affected by the rise in bond yields, which risks making equities less attractive and triggering an economic slowdown linked to interest rates under pressure.
After crossing the symbolic 4% mark last Friday, the 10-year yield fell back towards 3.96% on Monday morning.
With the ebb in interest rates, the dollar also fell, with the euro rising to 1.1020, currency traders doubting that it would go very far because of the disinflation movement which now seems to be well under way in the United States.
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