(News Bulletin 247) – The New York Stock Exchange should open on a favorable note on Wednesday morning, as Microsoft’s better-than-expected results reassured investors about the solidity of economic activity.
Half an hour before the opening, the ‘futures’ contracts on the main New York indices advance from 0.2% to 1%, suggesting a start to the session in the green.
Microsoft looks like the main contributor to the rise in US markets after reporting last night quarterly performance well above expectations.
The title of the computer giant climbed more than 8% in pre-market transactions, adding some 164 billion dollars to its already titanic market capitalization of more than 2,000 billion.
‘Given the economic uncertainties and concerns on Wall Street, Nadella and his associates delivered a perfect cloud quarter, which adds positive momentum to the tech sector as a whole when you add in the performance of ‘Alphabet’, Wedbush points out.
Alphabet, the parent company of Google, should also start the session in positive territory, even if its quarterly results proved less impressive than those of the group of Redmond (Washington).
The aircraft manufacturer Boeing is also supported by a better-than-expected publication, marked by a sharp reduction in its losses and a recovery in its aircraft deliveries.
Investors are particularly attentive to the publication of results, many considering that they will be decisive for the continuation of the upward movement at work since the beginning of the year.
For many strategists, the continuation of the upward trajectory of Wall Street will certainly require good surprises at the end of the results season, but also some signs of solidity of the American economy.
On this point, investors were not disappointed this morning since durable goods orders rebounded 3.2% in March, after falling 1.2% in February.
On the contrary, analysts were expecting a further decline in the statistics due to the waning confidence that currently characterizes the manufacturing industry sector in the United States.
On the interest rate market, the yield on ten-year Treasuries rose above 3.41%, while the dollar fell by 0.8% against the euro towards 1.1060.
On the energy market, crude oil prices continue to decline, with a barrel of American light crude sinking 0.7% below 76.5 dollars pending the publication, in the morning, of the weekly stocks of oil.
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