by Noel Randewich and Ankika Biswas
(Reuters) – The New York Stock Exchange ended mixed on Tuesday, with the S&P-500 hitting a new closing record for the third consecutive session, as investors factored in a mixed array of quarterly results in anticipation results from Tesla, Netflix and other companies.
The Dow Jones index lost 0.25% to 37,905.45 points.
The broader S&P-500 gained 0.29% to 4,864.59 points.
The Nasdaq Composite advanced 0.43% to 15,425.94 points.
After a delicate start to the new year, in a context of optimism on rates dampened by comments from officials of the American Federal Reserve (Fed), the main Wall Street indices rebounded in the wake of enthusiasm for with regard to artificial intelligence, in parallel with the opening of the results season.
Many investors consider that the results of the “Magnificent Seven” (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla) will be decisive for the trajectory of Wall Street and confirm, if necessary, the positive dynamics of recent sessions.
The results will “rise to a crescendo” on Wednesday and Thursday before next week will be “even busier”, underlined Art Hogan, chief strategist at B. Riley Wealth, referring in particular to the results of Tesla, expected Wednesday after the close .
“There are going to be a lot of things to consider over the next couple of weeks,” he said.
According to LSEG data, analysts on average expect annual revenue growth of 4.6% for S&P-500 companies in the fourth quarter of 2023, compared to year-on-year growth of 7.5% in the fourth quarter of 2023. July-September period.
In addition to the results, investors are awaiting the release this week of a report on personal consumption in the United States, which the Fed considers the main indicator of inflation, and a preliminary reading of gross domestic product (GDP ) American in the fourth quarter. The American central bank, which meets next week, should wait until the second quarter to cut interest rates, according to a poll carried out by Reuters, which places a potential first cut in June rather than May, as expected in the past.
Tesla ended the session up 0.2% on the eve of its results.
Verizon Communications rose 6.7% after forecasting solid annual profit and reporting a quarterly gain of new customers not seen in nearly two years.
Conversely, 3M plunged 11% in the wake of a disappointing annual forecast.
(French version Jean Terzian)
Copyright © 2024 Thomson Reuters