(News Bulletin 247) – Wall Street is expected to fall on Tuesday morning, a certain caution being imposed on the American markets on the eve of the highly anticipated announcements from the Federal Reserve.
Half an hour before the opening, futures on major New York indices fell 0.1% to 0.3%, announcing a moderate decline at the opening.
Investors are preparing for several busy and potentially decisive days with a new series of results that will be interspersed tomorrow with the Federal Reserve’s monetary policy decision.
The Fed is expected to carry out a final rate hike of 25 basis points on Wednesday before entering a period of stability that could last a few months.
If inflation is still not contained in the United States, the central bank wants to give time to act on its previous rate hikes and avoid any risk of a banking crisis after the bankruptcies of recent weeks.
The publication – Thursday evening – of the quarterly results of the giant Apple will be particularly scrutinized as investors begin to ask questions about the valuation of the Nasdaq, which has climbed 16% this year.
‘Big tech’ has shown impressive resilience so far during this corporate earnings ball and now it’s Apple’s turn to step into the stage for what is shaping up to be the ultimate episode. ‘final’ of this season,” said Dan Ives, analyst at Wedbush Securities.
The week still promises to be very busy in terms of publications with a total of 162 components of the S&P 500, including 30 of the Dow Jones index, due to publish their figures.
So far, more than half of S&P companies have already reported their quarterly earnings, and 79% of them have done better than expected on their earnings, according to FactSet.
On the bond compartment, the yield of Treasuries at 10 fell 2.5 basis points below 3.55% on the eve of the Fed’s conclusions. The dollar, for its part, confirms its return to form, rising towards 1.0950 against the euro.
On the oil market, crude oil prices continued to fall (-0.6% to 75.2 dollars for WTI) due to ever-present fears of a recession, or at least a future slowdown in the growth.
Investors will watch early in the session the monthly figures for orders to industry, which should confirm the difficult pass that the manufacturing sector is currently going through.
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