Less worried about trade tensions, Wall Street opens up

5

New York – Wall Street climbed Monday at the opening, this week’s entry into the heart of the corporate earnings season eclipsing at least temporarily the concerns of geopolitical and commercial conflicts.

Around 13:40 GMT, the index of Wall Street, the Dow Jones Industrial Average, was up 0.51% to 24,484.96 points. The Nasdaq, with strong technological coloration, advanced by 0.36% to 7,132.12 points. The broad S & P 500 index rose 0.41% to 2,667.08 points. The New York Stock Exchange ended lower on Friday, affected by a sharp decline in the stock price and fear of escalating tensions around Syria: the Dow had lost 0.50%, and the Nasdaq 0, 47%. But the strikes carried out by the United States against Syria have finally been interpreted by the markets as a non-event “, to the extent that they have remained limited and will not be renewed in the immediate future, according to Fawad Razaqzada of Forex.com. ” Investors remain on guard against a possible rise in tensions between Russia and Western countries “but for now Moscow” did not fight back “. ” Investors will therefore be able to focus on following the release of the results of US companies “analysts at Mirabaud Securities Geneva said. ” If Friday, it was the cold shower for the banking sector (with yet better results than expected for Citigroup and Wells Fargo), the results including Goldman Sachs, Morgan Stanley, Netflix, Johnson and Johnson, Alcoa, Procter & Gamble and General Electric (expected in the week) could give new impetus to the indices “, they stressed. Analysts’ forecasts are however ” very high ” and one ” any small hitch will be immediately sanctioned “, they warned. On Monday, Bank of America was up 0.03% after reporting strong quarterly results driven by a drop in taxes and an increase in loans to households. After the close it will be Netflix’s turn to reveal its numbers. The day’s indicators were mixed, as manufacturing activity in the New York area slowed its advance in April but retail sales rebounded more than expected in March in the country. The bond market was retreating: the US 10-year borrowing rate rose to 2.853% against 2.827% Friday night, and the 30-year rate to 3.051% against 3.027% before the weekend.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.