PARIS (Reuters) – The New York Stock Exchange opened cautiously higher on Wednesday after Goldman Sachs posted a lower quarterly profit, but optimism over the results of new technology giants such as Tesla, Netflix and IBM, expected in the evening, supported the trend.

In early trading, the Dow Jones index gained 134.16 points, or 0.38%, to 35,086.09 points and the broader Standard & Poor’s 500 rose 0.33% to 4,570.32 points.

The Nasdaq Composite took 0.25%, or 36.43 points, to 14,390.07.

Last of the big American banks to publish after Bank of America (+0.33%), Morgan Stanley (+0.01%), JPMorgan Chase (-0.49%) and Wells Fargo (+0.02%), Goldman Sachs reported on Wednesday a sharp decline in its profit in the second quarter, below expectations, due to a depreciation in its fintech GreenSky.

Goldman Sachs shares, volatile in futures, fell 0.88% at the start of the session, the day after a sharp rise in banks.

The banking sector index climbed another 0.05% on Wednesday.

“We have a lot of big banks that have published and the results have been pretty good so far. (Goldman) is probably the first setback,” said Dennis Dick, market analyst at Triple D Trading.

Regional banks Citizens Financial (+0.99%) and M&T Bank (+2.84%), which also published their financial accounts, exceeded Wall Street expectations.

Investors are now awaiting the first results in the new technologies sector, with in particular Tesla (+0.62%), Netflix (+0.65%) and IBM (+0.43%).

Microsoft, which hit a historic high of $366.78 per share on Tuesday, took another 0.47% on Wednesday, thanks to an expected increase in its prices for the Office office suite with the integration of new features linked to artificial intelligence.

The provisional green light from London to the merger agreement between VMware and Broadcom allows the former to jump 6.3415%, while the latter falls by 0.99%.

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(Written by Claude Chendjou, edited by Kate Entringer)

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