(News Bulletin 247) – The New York Stock Exchange should start the session on a rather good foot, given the futures on the S&P500 (+0.2%) and the Nasdaq-100 (+0.3%) at half a opening time, encouraged by favorable news from Asia.
“The markets in China continued to rebound overnight, with the announcement of an extension of aid to the real estate sector and the prospect of new support for the economy, which could be announced soon by the party”, underlines IG France.
Operators could however limit their risk-taking on Wall Street, before the publication of the latest inflation figures on Wednesday and a first round of quarterly results from several major US banks on Friday.
In view of these publications, Jefferies also raises its recommendation on JPMorgan Chase to ‘hold’ to ‘buy’, with a price target raised by 11% to 165 dollars, as part of a sector note.
“The earnings season should pick up speed thereafter and this will allow investors to justify or not the rally since the beginning of the year”, estimates IG France, noting that the results of the S&P500 are expected to fall for the third quarter right now.
Adding that members of the Fed are due to speak this week, the management company thinks they should be positive on inflation and ‘could increasingly suggest that rate hikes should be over soon’.
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