The S&P 500 lost 0.1% and the Nasdaq lost 0.2% in pre-session on Friday, while the Dow Jones remained stable…
(Boursier.com) — The S&P 500 lost 0.1% and the Nasdaq lost 0.2% in pre-session on Friday, while the Dow Jones remained stable. Caution dominates, the day after a session of increases following figures “in line” with US inflation expectations for the month of December. Operators, comforted in the idea of a gradual decline in inflation and therefore less vigorous monetary tightening by the Fed, are now awaiting quarterly publications from large companies.
The fourth quarter results season indeed begins quite seriously this Friday on Wall Street, with the publication of the accounts of many large banks, as well as other firms. UnitedHealth, JP Morgan Chase, Bank of America, Wells Fargo, BlackRock, Citigroup, Bank of New York Mellon, Delta Airlines Where Wipro, publish in particular before market. Forecasts are timid. S&P 500 companies could see their first drop in earnings since the third quarter of 2020, with an estimated decline of more than 4% in the fourth quarter. Analysts have significantly reduced their forecasts in recent months, but some strategists still believe that these figures have not been sufficiently revised.
In economic news on Wall Street today, import and export prices for the month of December will be known at 2:30 p.m. (FactSet consensus -0.8% for import prices compared to the previous month ). The preliminary index of US consumer sentiment for the month of January 2023, measured by the University of Michigan, will be released at 4 p.m. (FactSet consensus 60.3). Finally, Patrick Harker of the Fed will speak during the day.