(News Bulletin 247) – Futures on the S&P500 and the Nasdaq-100, down 0.1% half an hour before the bell, point to a fairly calm opening on the New York Stock Exchange, for a week that will will notably see the start of the earnings season.
On the statistics front, the week will be dominated by the publication of several inflation indicators in the United States for the month of June, starting with the consumer price index on Wednesday, then those for production and import.
These figures should all the more attract attention as last Friday’s employment report, marked by a still firm increase in wages, confirmed the hypothesis of a new monetary tightening of the Fed at the end of the month.
The week that is beginning will also see the start of the quarterly results season in the United States, with in particular the publications of major financial institutions such as JP Morgan Chase and Citigroup, expected on Friday.
‘Consensus expects S&P-500 earnings per share to fall 9% year on year, due to steady sales growth and margin compression, news that is likely to move markets ‘, warns Kiplink.
In the meantime, Nanobiotix has announced a global licensing, co-development and commercialization agreement with Janssen, a subsidiary of Johnson & Johnson, for NBTXR3, which is currently being evaluated for different solid tumor indications.
Jefferies maintains its ‘hold’ recommendation on Tesla, while raising its price target from $185 to $265, saying it shares the consensus view that the second quarter will be a bottom in automotive gross margin.
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