At the opening, Wall Street should be well oriented. Index futures show an opening up +0.45% for the S&P 500. The Dow Jones should point with a gain of a little more than 0.5%. The Nasdaq would be on the same trend.
At the close of trading on Friday, all indices were already in the green on Wall Street. The S&P gained +0.55% to 5,615 points, setting a new record at 5,655.56 points. Over the week, it gained +0.76%. The Dow Jones gained another +0.62% on Friday, reaching 40,000 points. On a weekly basis, the leading index of the American market gained +1.67%. After a drop of -1.95% on Thursday, the Nasdaq recovered firmly on Friday, with a rise of +0.63% to 18,398 points, after a daily high of 18,556 points. No record (-0.03% over the week) however to end the week on technology stocks!
This Monday, the fundamental question is therefore whether the New York indices will find sufficient growth supports to go even higher, and free themselves from the latest series of records established.
The ball of corporate publications opened on Wall Street on Friday with banking stocks. It will continue all week. The markets will therefore draw their second wind from these corporate results…
At the start of the week: Blackrock is expected on Monday; Bank of America, Morgan Stanley and UnitedHealth Group on Tuesday; Johnson & Johnson and US Bancorp on Wednesday.
As markets digest the fallout from Donald Trump’s assassination attempt, investors will also have to factor in the increasingly likely possibility of his victory in November’s presidential election. Unsurprisingly, Trump’s candidacy will be made official this week at the Republican convention in Milkwakee.
On the macroeconomic side, after last week’s disappointment with the publication of production prices that rose more sharply than expected, only the New York Fed’s Empire State Manufacturing Index is being published today.
Federal Reserve Chairman Jerome Powell is also scheduled to speak on Monday. Investors are waiting for any sign or comment that could validate the thesis of a rate cut in September, especially since Powell has been cautious in his recent interventions.
The highlight of the week will be the publication of the Fed’s Beige Book on Wednesday (8 p.m.).
Tomorrow, investors will watch import and export prices (2:30 p.m.), retail sales (2:30 p.m.), business inventories and sales (4 p.m.) and the NAHB housing market index.
On the oil side, the barrel of WTI crude fell by -0.22%, to $82.03.
The greenback is stable and trading at 0.9169 euros.
Gold is relatively stable at $2,417 per ounce.
Bitcoin is in a strong rebound of +8.86% to $62,724.
Values
* Alphabet. Google’s parent company is in advanced negotiations to acquire cybersecurity startup Wiz for about $23 billion, a person familiar with the matter said Sunday. The deal would be the tech giant’s largest acquisition ever. The transaction would be financed primarily in cash. Wiz had revenue of about $350 million in 2023. The company recently raised $1 billion in a private equity round that valued it at $12 billion.
* Blackrock. For the period between April and June, the group achieved a turnover of $4.80 billion (+6% over one year) and a net profit up 9% to $1.49 billion, which meets market expectations. Per share and excluding exceptional items, net profit exceeds the consensus of $9.96 and stands at $10.36. It is up +12%.
* Goldman Sachs. In the second quarter, the American investment bank’s net income soared 150% to $3.04 billion, or $8.62 per share. EPS was higher than the consensus of $8.42. Goldman Sachs’ revenues rose +17% to $12.73 billion, beating consensus expectations of $12.40 billion. Its profits are up sharply thanks to the solid performance of its investment banking and markets activities.
Macy’s. The American department store chain has ended discussions with Arkhouse Management and Brigade Capital, saying the revised acquisition proposal lacked financing certainty and did not offer compelling value.