(CercleFinance.com) – The New York Stock Exchange started with timid gains in a week that will be dominated by many corporate results: the Dow Jones gained around 0.3% to 33,987 points, as did the Nasdaq Composite at 12158 dots.
About sixty S&P 500 companies are due to present their quarterly results this week, including some heavyweights such as Bank of America, Netflix, Tesla, J&J, Morgan Stanley and P&G.
If these big companies were to warn investors about the evolution of their outlook, this could be cause for concern for markets increasingly concerned about the threat of a coming recession.
Awaiting those results, investors took notice of a dramatic rebound in manufacturing activity in the New York area, with the local Fed’s ‘Empire State’ index rising from -24.6 in March. at +10.8 this month.
The next few days will also see the release of other US macroeconomic data, such as residential construction figures, the Philly Fed activity index and the Conference Board’s leading indicators.
Merck is up 2.1% so far, after announcing over the weekend an agreement to acquire Prometheus Biosciences for about $10.8 billion, as well as phase 2b data. positive in melanoma with Moderna.
Uber gained 1.9%, helped by favorable remarks from Jefferies, which integrated the title of the contacting platform, already recommended for ‘purchase’, into its favorite values (‘top picks’), while enhancing its target price of 47 to 49 dollars.
Copyright (c) 2023 CercleFinance.com. All rights reserved.