Wall Street up timidly, ahead of services and employment indicators

(Boursier.com) – Wall Street is expected in the green for the time being, before market trading on Tuesday, the S&P 500 agreeing 0.2%, the Nasdaq 0.3% and the Dow Jones 0.1%. The trend is therefore slightly positive, with operators overcoming their fears regarding the banking crisis, oil or the economic and monetary outlook. On the Nymex, a barrel of WTI crude rose another 0.7% to around $81, after the production cuts announced by OPEC+. The ounce of gold stabilizes at $2,000. The dollar index lost 0.2% against a basket of benchmark currencies.

On the economic front across the Atlantic today, industrial orders for the month of February will be published at 4 p.m. (FactSet consensus -0.5% compared to the previous month, -1% for durable goods orders). The US Department of Labor’s JOLTS report for February job openings will be released at the same time (consensus 10.4 million). Finally, Fed Governor Lisa Cook and Cleveland Fed President Loretta Mester will speak in the evening.

Tomorrow Wednesday, operators will also follow in the USA the ADP report on private employment, as well as the final composite PMI index for March (and therefore that of services) and the ISM services index. On Thursday, markets will watch the Challenger, Gray & Christmas study on layoff announcements. On Friday, to end the week in style, investors will follow the US government’s monthly report on the employment situation for the month of March (consensus 240,000 non-agricultural job creations, 3.6% unemployment and 235,000 job creations in the private according to FactSet).

Elsewhere in the world this morning, the markets learned of a German trade surplus for the month of February above expectations, at 16 billion euros against 13.1 billion consensus. The producer price index in the euro zone reassured for its part, down 0.5% in February compared to the previous month according to Eurostat, against -0.3% consensus, and up 13.2 % over one year against 13.4% consensus.