(CercleFinance.com) – The New York Stock Exchange should open higher on Monday morning, supported by better than expected results from Goldman Sachs and rather reassuring economic indicators.
Half an hour before the opening, futures contracts on the main stock indices advanced by 0.8%, suggesting a recovery in the trend after two consecutive weeks in the red.
The first exchanges should be supported by results better than expected from Goldman Sachs, whose quarterly profit increased by 28% driven by the strength of its market activities.
Following this publication, the title of the New York investment bank rose by almost 4% in pre-stock market quotations.
Bank of America and Morgan Stanley – which will publish their quarterly accounts tomorrow – are also on an upward trend in pre-opening.
With earnings season expected to intensify this week, investors appear to want to put aside their fears about persistent inflation, which could lead the Fed to delay its rate cuts.
Some 44 companies belonging to the S&P 500 index, including six Dow Jones stocks, are due to publish their accounts this week. Announcements from J&J, Netflix and Procter & Gamble will be closely monitored.
The rating is also pushed up by several economic indicators.
The publication of retail sales figures, which showed a greater than expected increase of 0.7% in March, notably reassured the market on the strength of the American economy.
The Empire State index – which measures manufacturing activity in the New York region – was in negative territory for the fourth consecutive month, but improved to -14.3 in April, from -20.9 in March.
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