(News Bulletin 247) – The US equity markets are moving in scattered order on Monday morning, with the imminence of many corporate publications over the next few days seeming to discourage any risk taking
At the end of the morning, the Dow Jones oscillated around its equilibrium point, at 33,811.8 points, while the Nasdaq Composite fell 0.5% to 12,004 points.
Investors are bracing for a busy week with a flurry of earnings from the tech sector, which will be interspersed with several indicators including the initial estimate of first-quarter GDP expected on Thursday.
The publications of the heavyweights Alphabet, Microsoft, Meta and Amazon will be particularly scrutinized, at a time when investors are asking more and more questions about the health of the American economy.
‘The earnings season has got off to a pretty good start so far, but everyone is worried that future releases will confirm that a recession is indeed on the horizon,’ said one trader.
Meanwhile, Coca-Cola gained nearly 0.5% after reporting better-than-expected first-quarter performance on the back of price hikes designed to offset the impact of inflation.
In the bond segment, the yield on Treasuries eased slightly, falling four percentage points to 3.53%, leading to a new bout of weakness in the dollar, which fell 0.65% to 1.1025 against the euro.
On the oil market, the barrel of American light crude (WTI) interrupted its decline by recovering by 0.5% to 78.4 dollars, supported by optimism surrounding the reopening of the Chinese economy.
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