(News Bulletin 247) – Futures on the S&P500 (+0.9%) and the Nasdaq-100 (+2.3%) point to a vigorous rebound at the start of the session on Wall Street, with good macroeconomic data making forget about the debt ceiling issue for a while.
GDP growth in the United States for the first quarter of 2023 has indeed been revised to 1.3% at an annualized rate, compared to 1.1% in the very first estimate, thus marking a less significant slowdown compared to 2, 6% from the last quarter of 2022.
This good news seems to put fears about debt negotiations on the backburner, while ‘Kevin McCarthy said that there were a number of subjects where the negotiators were still distant’, according to Deutsche Bank.
The German bank also pointed out that after the close of US markets on Wednesday, the credit rating agency Fitch placed the rating of the United States on negative watch, even if its basic scenario remains that an agreement would be concluded.
As for corporate publications, the supplier of programmable graphics processors Nvidia unveiled Wednesday evening an adjusted EPS down 20% for its first accounting quarter, for revenues down 13%.
The consumer electronics chain Best Buy published for its first quarter adjusted EPS down nearly 27%, stressing that “its customers are clearly being cautious as they continue to face high inflation”.
On the occasion of the publication of quarterly results above its expectations, the medical equipment supplier Medtronic indicates that its board of directors has approved an increase in the dividend, bringing its quarterly amount to 0.69 dollars per share.
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